Explaining changes in cost of living indices to your assignees and other stakeholders can be a real challenge, especially when high inflation or volatile currency movements are involved. Fortunately, ECA has a range of tools to help!
As it's always popular with our clients, we have once again created a map to help you understand and explain recent index changes in some of the more volatile locations (see below). Our Cost of Living Calculator’s Index Changes feature is also super helpful. This useful tool provides clear graphic explanations of the impact of price changes and exchange rate movements on cost of living indices for all locations, which are easy to share with stakeholders keen to understand developments over the last six or twelve months.
Take a look at our Index Changes feature here
Our Cost of Living Calculator shows the relative impact of inflation and exchange rates on your specific cost of living indices over six or twelve months in an easily shareable format. The example below shows the cost of living changes between Sydney and Lisbon.
And now onto our highly anticipated interactive map. Simply choose a home location from the dropdown and learn more about how cost of living indices changed in the six months to September 2023. Exchange rate changes, inflation and index change indicators will vary depending on the home location selected and are based on ECA's default standard home-based index; they may change if different assumptions are used.
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Post-survey developments
The information in this blog describes the changes up to the September 2023 Cost of Living Survey but in some countries circumstances can change quickly. That is why we carry out extra surveys for high inflation countries (see below) and publish regular blogs on exchange rate changes around the world, so you can be prepared for anything.
Sign up to ECA's blog alerts to make sure you stay up to date with the latest exchange rate and inflation news.
ECA's interim surveys
With inflation remaining stubbornly high in many countries it is essential to have up to date information. Fortunately for those managing assignees around the world, ECA surveys high inflation locations quarterly and in December will cover 16 countries.
We are currently undertaking interim surveys for the following countries due to high inflation expectations: Argentina, Burundi, Egypt, Ethiopia, Iran, Laos, Lebanon, Malawi, Nigeria, Pakistan, Sierra Leone, South Sudan, Surinam, Turkey, Venezuela and Zimbabwe. The results will be available in January 2024.
FIND OUT MORE
If you require advice regarding currency fluctuations, or would like additional information or data on any of the 500+ locations included in our survey, please get in touch.
Please contact us to speak to a member of our team directly.