Have you heard of the Big Mac Index?
You can read more about it here, but in very simple terms, it looks at the price of a Big Mac around the world and measures the purchasing power parity (PPP) between two currencies.
Lulu thought she'd do her own lulu version of a Big Mac Index to look at the purchasing power of the hardcore poor of Malaysia.
Per the 9th Malaysia Plan, using the The Non-Food PLI [where the expenditure pattern of non-food components of the PLI are based on the actual expenditure of the bottom 20 per cent expenditure group derived from the household expenditure survey (HES). Non-food components comprise clothing, housing, transport and other items],
the Poverty Level income is as follows.
the lulu version would use the Curry Flavour Maggi Mee instead of the Big Mac as as the indicator, and would compare our purchasing power between last year and this year.
up till the end of Y2007, the 5pack curry flavour Maggi mee costs RM2.59
today, it costs RM2.89.
Taking the national average of RM691 poverty level income,
in 07, the family could have bought 267 packs of 5pack Maggi Mee.
today, in this "inflation is only 1.9%" nation of ours, the same family can buy only 239 packs with the same amount of money.
Lulu wonders, do those whom the PM considers as his success feel any richer today compared to last year?
Or are they feeling much, much poorer after 4 years of Abdullah Ahmad Badawi-ism?
Not sure about you, but Lulu does feel poorer per this Maggi Mee Index