Brazil is by no means a cheap place to live. Especially for those working for minimum wage, which currently stands at BRL 954 – around USD 250 – per month. Price hikes in Brazil are explained by a multitude of reasons, from a sheer lack of infrastructure to high levels of taxation and corruption. All of these hurdles are simply referred to as the “Brazil cost,” and represent a major obstacle for competitiveness, investments, and consumption.
But exactly how much does it cost to live and do business in Brazil?
A British worker can pay for a jar of Nutella after 33 minutes of labor, while his Brazilian counterpart must work for 9 hours and 30 minutes to afford the same jar, InfoMoney reported.
Exame magazine noted that when the iPhone X and Sony’s PlayStation 4 were launched, it would be less expensive to buy a roundtrip ticket to Miami and purchase the electronics there, rather than pay what was being asked by Brazilian stores.
If you are looking for more robust academic evidence, the Big Mac Index is a light-hearted but widely accepted metric used to compare international prices – and the latest data compiled by The Economist is discouraging for Brazilian consumers, who pay USD 5.10 for the sandwich. That places Brazil as the sixth-most expensive entry in a ranking of 58 countries, tied with Italy and France, and leaving behind places known for their high living costs, such as Denmark.