Three months ago I did a post for the Hive PPP Index V2 and asked people to price a basket of goods from their country. The idea was to see how the price differs across countries for the same product. Due to no reason other than laziness on my part, it has taken me a long time to write up the results. I could have pretended to forget all about this, but everything lives on the blockchain, and I like to preserve what little reputation I have on Hive and deliver what I said I will do😊 Finally, I sat down this week to analyse the inputs and present to you the Hive PPP Index V2.
First of all, I want to thank everyone who took time to provide their input. As a thank you, I will be sending 5% of this post reward to each of the following
@nathen007 - Thailand
@lizelle - South Africa
@softhana - Venezuela
@brunettedev, @nanixxx, @mdrguez - Cuba
@ladyaryastark - Paraguay
@seattlea, @mrsbozz, @greensandpinks - USA
@palomap3, @mipiano - Spain
@godfish - Czech Republic
@duskobgd - Serbia
@Stresskiller - Netherlands
@cwow2 - Denmark
@tengolotodo - UK
Overall results
I received 18 data points from 12 countries for the 12 items on my list. All prices are converted to USD for ease of comparison. Due to the time lag from when the data was received two months ago, it is possible the prices may be out of date due to inflation and exchange rates, particularly for countries like Cuba and Venezuela.
The total price for the basket of 12 items range from the most expensive USD212 in Washington State in America, to the cheapest USD23.96 in Cuba. When I did the last Hive PPP Index the same two locations came top and bottom.
There are three inputs from north America, Washington state in NW (@seattlea), Texas in the south (@greensandpinks) and Michgan on the mid west (@mrsbozz). This gives a good indication of the difference across America with a price range of $97 to $212. We will look at where the price differences come from in a minute.
In UK there was myself in the south, and @tengolotodo from Scotland in the north. Scotland is £73.79 compared to £53.75 in the south, that's like 1/3 difference.
We have 5 countries from Europe, with Denmark (@cwow2) being the most expensive at $90.45. That's not too surprising, as the Nordic countries are generally known to be quite expensive. Next most expensive is Netherlands (@stresskiller) at $71.54. That's around the same price as Scotland. For the other three European countries, Czech Republic (@godfish) was $58.17, Serbia (@duskobgd) $54.23, and the two inputs for Spain from @palomap3 and @mipiano were around the same at the $43-$45 mark.
Moving to central and south America, I received 3 inputs from Cuba. @mdrguez gave me her prices in USD and @brunettedev and @nanixxx in the local currency CUP. I googled the exchange rate and got $ : 24 CUP. Using that exchange rate, @brunettedev and @nanixxx prices came out more than 10x more expensive than @mdrguez, and even more expensive than America. Something is wrong!! I checked the inputs again and discovered that @nanixxx had given me the informal exchange rate. The CUP is pegged to the USD by the government at 25 CUP, but the informal rate is a lot different. In July this year it was 385, and today it is 460! Using the July informal rates, the three Cuba input are now more in sync between $24 to $32. @ladyaryastark sent me her prices for Paraguay and @softhana from Venzuela. Both were a little more expensive than Cuba.
And finally Asia and South Africa. It was nice to get an input for Asia this time for Thailand (@nathen007), at $44.95 it's around the same price as Spain. The finally South Africa (@lizelle) is more or less in line with European prices at $54.
One month mobile phone plan with 5GB data
The first item is, in my opinion, the most important for the Hive PPP Index, or rather for Hive. It's the only means to get online for most people, particularly if you're on the go. Mobiles are very expensive in America, but I was very surprised at how expensive it is in NW America. I'm not sure if that includes the cost of the handset bundled in with the monthly service charge, or just the latter.
Cuba is very cheap, that's great news, but the issue is more to do with availability than cost. Both @mdrguez and @nanixxx advised that you can only buy 6GB per month at 360 CUP, which is less than a USD. If you want to buy more, it's going to cost you 20x more!
One liter of standard unleaded petrol/gas
In the last Hive PPP Index, I discussed the reasons for price parity for petrol/gas across countries. Overall, the price hasn't changed much over time, which is good, given that inflation is rife all around.
Crude oil is a global commodity and will be the same for every country. What drives the final pump price includes things like duty and taxes, distribution and logistic costs, profit and exchange rate etc.
500g of pasta
Not too much difference in price around the world, apart from NW America, which is 3x more expensive!!
6 eggs
The thing with eggs, is there can be a big difference in the prices depending on what kind of eggs you buy. For example, there's at 20% difference in the two Spanish prices. I like to buy better quality golden yolk organic eggs because my husband likes eggs. They're can be 30% more expensive than basic eggs.
One kg flour
Us Brits love baking, I don't know if that drives up the price of flour in the UK. In Thailand, I know @nathen007 has been doing a lot of baking in his new kitchen using good quality imported flour from Korea, hence the high price. I was surprised that @nanixxx pays $2.23 per kg for flour, maybe you should ask where your compatriot buys theirs ...
One kg minced beef/pork
America and Denmark lead here again. And surprisingly (or not?), Venezuela is expensive, around the same price as what I and @lizelle pay in UK and South Africa respectively.
One kg of potatoes
Potatoes are very expensive in Cuba when it is out of season. @mdrguez says you have to pay USD6 for frozen pre-fried packages when they're not in harvest. They are very cheap in Paraguay, Serbia and Czech republic, good for @ladyaryastark, @godfish and @duskobgd if it's part of your staple diet.
One pack of 12 roll toilet paper
This is a new item I added for this version because it is an important item in our daily life and I think it deserves a place in the Hive PPP Index. Do you remember how everyone was hoarding toilet paper during Covid!!! There is a wide variety of toilet paper available in the market so I would expect to see price differences here. NW America is the most expensive, but I was a little surprised that UK is more expensive than the rest of Europe, including Denmark.
One litre of fresh milk
The outlier here is Cuba, @mdrguez advised "Here it is practically impossible to buy, only in some rural areas. Powdered milk is generally consumed." And it cost $5.5 for a 1kg bag. In America, it's a bit more expensive in Texas because it seems @greensanspinks buys the smaller containers. She said you can get the larger containers at 4x volume for around the same price. This is what @mrsbozz from Michigan buys hence the big price difference. The index asks for what you would normally buy, not necessarily the cheapest.
What surprised me most was that there wasn't much price variation across all the other countries. The range from $1 to $2 per litre.
Two litre bottle of Coca Cola or soft drink
Coca cola is one of the biggest global consumer brand and I figured it would be a good indicator to measure global prices. However, Cuba is one of the two countries where it's not officially available. @brunettedev pays over $6 for a 2 litre bottle, so maybe that's from the unofficial market? @stresskiller pays quite a lot for his bottle in the Netherlands, as does @seattlea in NW USA, but we already know the poor guy pays a lot more than everyone else for nearly everything.
6 can of beer
Same goes for beer, @seattlea ever thought of moving 😉? @tengolotodo pays quite a lot for a 6 pack in Scotland UK. But then, it depends which brand you buy, whether it's local or imported, or craft beer can be quite expensive.
Cinema ticket to watch a blockbuster movie
And finally, I've included what I classify as a "luxury" item. The folks from America will be glad to know you don't top the league table here. Denmark, Netherlands, and surprisingly Scotland in UK all cost around $20 for a cinema ticket. When you add in popcorns and a soft drink for you and +1, it can become quite an expensive night out. The Cubans will be glad here, I hope you can enjoy an affordable and enjoyable night out
admist the challenges in life.
Conclusion
I hope you have found the Hive PPP Index informative and that it gives you a bit more insight into the lives of our fellow Hivers around the world. Of course, it only looks at things from one perspective, and ignores other crucial things such as wages, taxes and other cost of living, so please bear that in mind.
If you think there would be other items that could be included in the Hive PPP Index please let me know and I will look into it if and when I do the next version.
After reading this post, I agreed with @ph1102. Moving to the country where everything is cheapest makes perfect sense. But what's the minimum wage there? Because buying things cheaply doesn't make sense if you can't earn any money 🤣
Work online for the US-based company, and live in Cuba! That's how digital nomads are doing it :)
Yeah if you can work online Cuba will be heaven for you 😂
I can clarify this issue for you.
I had to leave my job because I was earning 4,600 CUP a month. That's 10 USD right now. And I'm a university graduate with a degree in journalism.
Thanks a lot for clarifying, that's so cheap to work... Being a full time Hiver makes more sense
That's true, and it's been suggested to add the hourly wage next time to put things in perspective.
Exactly, it will be easier to compare then 😊
Because that’s the only system that works in Cuba. The government doesn’t sell dollars—they say they don’t have any. It’s such a crazy story, it’s hard to believe. You have to sign up on a list to buy dollars at 120, like it says in the photo I’m adding here. It all goes through an app called Ticket—the same app people use to get fuel, and they notify you when they can sell you a limited amount. You can imagine people buy them just to resell on the informal market, because every product that’s sold is priced according to that rate. Honestly, what I’m telling you is just a tiny part of what goes on here. None of it makes any sense.
By the way, my parents come all the way from Candelaria—60 km from here in Havana—to buy gasoline, whenever the app notifies them that it’s their turn. 🤐
I upvoted your comment but for some reason it appeared as a downvote?
Interesting points about the Cuban system.
Thanks. Don’t worry, it seems to be a Peakd bug. The same thing happens to me. I hope they fix it soon. I don’t see it as a negative here.
your vote
Thanks
Dang it done it again?
But does that only happen with me? When you vote on my comments...?
I see that the vote is still positive. 😃
Don't worry.
It happened on another comment in the same thread. I voted on @livinguktaiwan and it also shows as a downvote?
I'm sure someone will mention it to @peakd at some point. No worries 👍
It's amazing what we can learn on Hive isn't it
It truly is incredible to see the variety of prices around the world.
Admittedly this is a small sample but fascinating none the less.
The system is so crazy! By the time your parents get home, they've used quite a bit of their quota already!
And thanks for including the informal rates, that saved the day!
Yes, they’ve already taken it in good spirits and now combine buying petrol or gasoline (ya ni sé cómo se dice) with coming to see me. You’ve got to look on the bright side.
;) A hug!
Great work! I guess this index is great, and I would love to be included the hour salary, just the official minimum legal, what do you think about? Greetings!
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Yes, thats a very good idea, it helps to put things in perspective. Thanks for the suggestion
Cool! Thanks a congratulations for the effort and analysis!
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This is a very interesting compilation. It is curious to see the differences in the cost of the basic things to live in. I'm happy not to live in the USA because of the toilet paper. 🧻 😂
😂
The Grinch team diversified. 🤣😜
That seems to be a big concern for you. Is that why you live in Zaragoza😉😂
I thought that the madness for accumulating toilet paper in times of COVID had only been in Spain. 🤣
Interesting to see what we all pay for things and will gladly offer pricing on your next test.
Thanks. I'll tag you when I do my next one
I think it's a really interesting exercise to compare the prices globally. Perhaps next time, you could find exact brands that are sold everywhere, like the coke for example.
It would have also been nice if some of the SpendHBD people in Nigeria could have joined in so we can learn more how the system works...
Looking forward to more Cornwall please :-)
I thought drinks like coke or beer would be pretty standard, but there's also volume and size. All part of the fun, especially for the Americans where they're still on gallons and pounds.
Last time there was one person from Nigeria but she didn't join in this time. I was hoping for more countries, but it's great we have Thailand this time representing Asia, there was none last time. Guess it's too much effort for some 🥴
Cool that you did this again! I missed out this time, but I see that my corner of the world was represented by @seattlea. It's a small wonder anyone can afford to live here!
Look forward to the next round... hopefully more people will participate!
Thank @denmarkguy. It's very consistent in your part of the world, pretty crazy! I hope you have the salary to match the expenses.
It looks like we are all moving to Cuba! @nanixxx, prepare some accommodation for all Hivians! :)
Joke's on side, it would be great when there are no borders, visas, and other bureaucratic things, and everyone can live wherever they want... I suppose then we could get these things more in equilibrium...
Thanks for gathering and presenting the data! It's super-interesting to compare the prices around the world!
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Thanks for Mrs ph input. Moving to your part of the world isn't such a bad idea either
We have to keep moving... 😃
Wow, looks like gas and cell service are the two biggest outliers. Other than that things kind of line up pretty even except for a few exceptions. Looks like I need to move to Cuba and start a dairy/potato farm!
Seems like many people would like to move to Cuba, though it may be a tad difficult for you as an American 😉
It would be hell I think.
The differences within the US are quite shocking. Seems Walmart doesn't operate in certain regions ;)
It seems expensive to drink beer in the USA 😀
Well, it was quite costly when I visited a good tap room or a microbrewery there ;)
I also depends on how and where people shop, as I asked for what you would normally buy, which may or may not be the cheapest. If you buy organic stuff or from local shops rather than big supermarkets, you're immediately paying 2x or even 3x the price
Well, that's a good point :)
Laziness? LUT...No way!
I'm sure this took a load of time to compile! It is very interesting to learn about the price differences in various parts of the world, so thank you for that! When I visited my son, I kept converting to ZAR, and saw that many of the usual foodstuffs were not as expensive in the Netherlands as I thought. Except for a good beef steak!
It took me two months to do this 😅 but once I got into it, it was very interesting
Sounds like South Africa does some good affordable steak!!
This is so interesting to see! Thanks for putting this together.
You're welcome Melinda!
We are going back to the States in April to see Mrs T's family, I might just take a note of the items and do a price comparison there. They live in central Florida.
I have a feeling Florida won't be cheap, it's quite touristy? It'll be interesting to see
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Very fun to see the difference in prices across the world!
Even though I live in the highest priced Europe country. Fuck xD
I hope you do it again at some point and hopefully more will join :D
Lucky you living in Denmark!! I definitely want to keep doing this, maybe twice a year and it would be awesome for more people and countries to join.
I see you have some fans 😉
Haha, Denmark is pretty great when you live here and get a Danish salary not going to lie xD
Expensive for people visiting no doubt xD
That would be awesome!
I would promote it more active next time! :D
Ohh ye, spammy bots haha. Thank fuck for Peakd's new notification system, I don't even see it anymore xD
Thank yous are unnecessary; I love collaborating on these interesting indexes that you have taken the work and time to create and which provide very valuable information.
Reading the results, it would seem that Cuba is a paradise... and it could be for someone who moves here with a lot of USD, euros, pounds, or any hard currency....in cash!!!!... in banks here, never!! 🤣 The situation on this Island is very complicated to understand, even for us, but to summarize: With dollars, euros, pounds, or any foreign "hard" currency, life could be a bit more bearable. The bad part is that there is no way to earn a salary in our country in any of those currencies, which leaves us in a rather difficult position. There is no "legal" way to acquire them.
A basic basket of 32 USD (approximately 15,000 Cuban pesos at today's informal exchange rate) might seem very economical. That amount is 6 basic salaries of 2,500 pesos...you all can draw your own conclusions. Oh, and we are only talking about a basic list, imagine if we add other things that are also necessary.
But of course, we are happy going to the cinema...when there's electricity 🤣. Un abrazo @livinguktaiwan 🤗.