Get the latest tech news
Big Macs and the Cost of Living Crisis
The cost of a Big Mac can help us understand the big picture of what's going on with spiralling prices.
A burger production lineFrom Tokyo to Berlin, Parramatta to Chinchilla, the Big Mac is supposed to be identical every time — a bun, two beef patties, a single slice of plastic-y cheese, pickles, onion, lettuce and a dollop of sauce. Former governor of the Reserve Bank Phillip Lowe told Senate estimates last year that "wages have not been a driver of inflation", and prominent economists tend to agree. These royalty payments are "fried into the cost of a Big Mac", says Jason Ward, principal analyst at the Centre for International Corporate Tax Accountability & Research (CICTAR).
Or read this on Hacker News
