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Global currency rankings via the iPod Nano

For years, The Economist has monitored the "Big Mac Index" to measure the relative purchasing power of various currencies; it's not an exact measurement but it's an interesting (and moderately nutritious) one. Now, as noted by Marginal Revolution, Australia's Commonwealth Bank has extended the idea by measuring the Nano Index: comparing, you guessed it, the relative price of an iPod Nano in 26 countries.

The results are far-ranging, and obviously subject to Apple's local pricing policies in addition to government and trade restrictions. Worst places to shop for a Nano: Brazil is by far the most expensive at $327.71, way more than 2nd through 5th places India, Sweden, Denmark and Belgium (all under $225). US shoppers have a pretty good deal at the list price of $149, with only Japan, Canada and Hong Kong slightly cheaper. See the MR post as well as the Yahoo News story for more analysis of the macroeconomic implications of the tiny MP3 player's price tag.

It's amazing that in only five years the iPod has achieved enough global brand status to allow "indexing" alongside the Big Mac, Coca-Cola and a Starbucks latte.

Update:
Headline corrected to "Nano."

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