For a start, take New Delhi and Zurich: (prices in US$)
a loaf (1kg) of bread cost
5 years ago 0.49 in the Indian city, 3.93 in the Swiss one.
10 years ago 0.45 against the same 3.93.
So, over a five-year period, the price of the good rose by 10% in New Delhi, but remained unchanged in Zurich.
Now compare with last year; prices were: 0.64 and 5.10, a more than significant difference in a four-year time. Roughly 50% increase in N.Delhi, and more than 25% in Zurich in the whole period. Remember, times of 'catastrophic' crisis, recession... and widening gap. Much more inflation in New Delhi - and what a rate!
Over just one year (the last), prices rose to 0.76 and 6.15, respectively. Times were said to be even worse. Around 20% bread-inflation both in N Delhi and Zurich in just a year.
According to a wiki-definition, a double digit inflation of 10-20 per cent per annum is a running inflation. If it exceeds that figure, it may be called 'galloping' inflation. There we are, galloping for some bread.
Russian galloping
Bread? What a brick in the basket!
Moscow prices for the same good are the following:
7.57 ('now')
6.19 (2011)
1.79 (5 years ago)
0.73 (10 years ago)
The real reason for hatred
Now really grasp why the 'world' hates China:
1.85
1.76
1.51
1.78
Yes! Same good, same time marks. City: Beijing.
China has been accused of keeping an 'artificial exchange rate'. Ah! Now we can correctly 'translate' that. China just refuses to play the sordid game.
Dividing line: before and after Crisis
6.06
6.06 (last year)
3.50 (five years ago)
3.51
City: New York
Rice in Bangkok follows suit:
1.44
1.28
0.66
0.40
The report I got from the source - The Economist Intelligence Unit - does not show prices for Sao Paulo. However, as a local, I am aware of prices. The cheapest type, pão francês, in São Paulo costs as much as the 'loaf' (the survey in focus refers to) in Zurich. The all-favorite pão de queijo costs three times as much the francês. So it comes as a fact that we, in the 'wonderland of commodities', consume the most expensive bread in the world.
And we, Brazilians, are very likely the worst in elementary math, as rates in education vastly have suggested. And my own field research has confirmed. Besides, we in general simply do not make such comparisons, we do not pay attention to the relevant things going on.
Here is an invitation to start changing that attitude.
