The capital city of Manila had a local purchasing power index score of 22.2 in 2022, indicating a slight increase from the previous year. The city's local purchasing power index significantly declined between 2019 and 2020 at the height of the COVID-19 pandemic. In the Asia Pacific region, Seoul in South Korea had the highest local purchasing power index score as of 2023.
Local purchasing power index score of the city of Manila in the Philippines from 2016 to 2022
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According to the source, the index is relative to New York City, which means that each index should be 100 percent. If another city has, for example, a rent index of 120, it means that, on average, rents in that city are 20 percent more expensive than in New York City. If a city has a rent index of 70, that means that the city rents are 30 percent less expensive than in New York City.
The local purchasing power index is in relation to New York City, with NYC's index score being 100. The source states the following: "Local Purchasing Power shows relative purchasing power in buying goods and services in a given city for the average net salary in that city. If domestic purchasing power is 40, this means that the inhabitants of that city with an average salary can afford to buy on an average 60% less goods and services than New York City residents with an average salary."
The source did not provide a release date. Date given here is the access date.
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Numbeo. (November 14, 2023). Local purchasing power index score of the city of Manila in the Philippines from 2016 to 2022 [Graph]. In Statista. Retrieved July 03, 2024, from https://www.statista.com/statistics/1423491/local-purchasing-power-index-score-manila-philippines/
Numbeo. "Local purchasing power index score of the city of Manila in the Philippines from 2016 to 2022." Chart. November 14, 2023. Statista. Accessed July 03, 2024. https://www.statista.com/statistics/1423491/local-purchasing-power-index-score-manila-philippines/
Numbeo. (2023). Local purchasing power index score of the city of Manila in the Philippines from 2016 to 2022. Statista. Statista Inc.. Accessed: July 03, 2024. https://www.statista.com/statistics/1423491/local-purchasing-power-index-score-manila-philippines/
Numbeo. "Local Purchasing Power Index Score of The City of Manila in The Philippines from 2016 to 2022." Statista, Statista Inc., 14 Nov 2023, https://www.statista.com/statistics/1423491/local-purchasing-power-index-score-manila-philippines/
Numbeo, Local purchasing power index score of the city of Manila in the Philippines from 2016 to 2022 Statista, https://www.statista.com/statistics/1423491/local-purchasing-power-index-score-manila-philippines/ (last visited July 03, 2024)
Local purchasing power index score of the city of Manila in the Philippines from 2016 to 2022 [Graph], Numbeo, November 14, 2023. [Online]. Available: https://www.statista.com/statistics/1423491/local-purchasing-power-index-score-manila-philippines/