Truflation expands its Big Mac index to 15 new countries

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Truflation now offers the Big Mac Index in 17 countries worldwide, the company announced Thursday. Initially available in the US and UK, the index has expanded to include Argentina, Australia, Brazil, Canada, Switzerland, Hong Kong, India, Japan, Turkey, South Africa, Mexico, Germany, Italy, France and Spain.

Founded in 2021, Truflation is a decentralized service that tracks financial data in real time using blockchain technology and a network of over 10 million data points. It aims to provide an unbiased, accurate and transparent measure of inflation compared to traditional indices such as the Consumer Price Index (CPI).

One of the indices that Truflation publishes is its own version of the Big Mac Index. This is a price index that uses the price of a McDonald’s Big Mac to measure the purchasing power of different currencies, giving an idea of ​​how exchange rates affect the cost of goods in different countries.

Truflation said the Big Mac Index is updated daily based on the CPI, providing information on inflation, income disparities, consumer confidence, supply chain dynamics and cultural trends.

Stefan Rust, CEO of Truflation, said the expansion of the company’s Big Mac index “is another step in further democratizing finance” by making it accessible to everyone.

Earlier this week, the firm announced the launch of an independent inflation calculator and tracker specific to Argentina. In addition to the inflation tracker, Truflation has also released a personal inflation calculator for Argentina.

The development of these tools was carried out in collaboration with the Argentine government, ensuring the accuracy and transparency of the data. However, Truflation claims that their tools are independently maintained to prevent data manipulation, which is essential to restoring public confidence in inflation statistics.

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