Former Chief Economist Prof. Dr. Hakan Kara shares the Big Mac Index
Former Central Bank of the Republic of Turkey (TCMB) Chief Economist Prof. Dr. Hakan Kara shared the Big Mac Index table, which compares the purchasing power of different currencies using the price of a Big Mac in various countries.
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Former TCMB Chief Economist and academic Prof. Dr. Hakan Kara shared the Big Mac Index table on his X account. Following his comparison with the rest of the world, Kara stated the following:
"A comparison of the Big Mac sandwich price in Turkey with the world average. The gap between them is at the highest level in history.
Looking at this data alone to say that the Turkish Lira is overvalued could be misleading, because in recent years, meat prices in Turkey in dollar terms have increased faster than in the rest of the world"
A comparison of the Big Mac sandwich price in Turkey with the world average??
— Hakan Kara (@ali_hakan_kara) May 12, 2024
The gap between them is at the highest level in history. pic.twitter.com/PSxQyY0dsW