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India is the 33rd cheapest to buy a tall latte compared to 76 countries
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Monday, 14 October, 2019, 08 : 00 AM [IST]
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Sydney
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India is the 33rd cheapest country to buy a tall latte, according to new research from financial comparison website finder.com. A tall Starbucks latte in New Delhi costs US$3.30. Topping the list is Copenhagen, Denmark, where a tall latte costs $6.05, whereas those in Istanbul, Turkey, appear to get the best for their buck, paying just $1.78.
The most expensive region on average is Europe, where a tall latte costs an average of $3.92, followed by Asia where the cost is an average of $3.72 a cup. East Asian cities in such countries as Japan, Taiwan and Macau pay the highest average cost at $4.23 a cup. Following are cities in Western Asian countries such as Bahrain, Lebanon and the United Arab Emirates at $3.80 and cities in Southeast Asian countries such as Brunei, Singapore and Thailand at $3.34. Central Asia (Kazakhstan), at $3.19, is the cheapest Asian region on average in which to pick up a Starbucks.
In the report, it was noted one would expect that coffee prices are higher in wealthier countries and lower in poorer countries, because many factors affect the cost of goods and services, including the local cost of raw materials, production and labour costs, taxes, tariffs and retailer pricing strategies. Given that, the company looked at the GDP-per-capita value for each country alongside the coffee cost in US dollars to see how far each country deviates from the average.
The below ‘Latte Line’ shows that the price of a tall latte in New Delhi is slightly more expensive than you might expect considering the trend line showing coffee price and GDP for the 76 countries. The index suggests a coffee is 7.75% more expensive than it should be based on GDP, and that the Indian rupee is 7.75% undervalued.
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