World Bank: Chile raises its standard of living in Latin America
Publicado el: 17 de enero de 2008
Source: www.worldbank.org 
According to the World Bank's global International Comparison Program report, Mexico is proportionally the most expensive country in Latin America, followed by Chile. The study compares economies around the world and shows the most and least expensive countries according to price indexes based on the experience of travelers who make purchases in different countries after exchanging their currency.
The report cites Mexico as the most expensive country with relative prices at 81 percent of the world average, followed by Chile with 74 percent and Brazil with 69 percent. Based on the study's price index, the most expensive countries in the world are Iceland, Denmark, Switzerland, Norway, and Ireland.
The report also measures the size of different economies using the Purchase Power Parity (PPP) of their population. The PPP compares the purchasing power of all countries and provides an idea of the cost of living, consumer spending, and investments.
According to this measurement, Chileans have the highest relative wealth in the region with a PPP of US$ 12,277, followed by Mexico with US$ 11,317, Argentina with US$ 11,076, and Brazil with US$ 8,606.
The report pegs the world average PPP at US$ 6,100, while Latin America's average is US$ 9,064.