Colombia: Big Mac index 2010-2024

The so-called Big Mac index is regarded as an indicator for the purchasing power of an economy. The average price for a Big Mac burger in Colombia was estimated at 5.09 U.S. dollars in January 2024. Colombia price for a Big Mac is among the four highest in Latin America.


Big Mac Index

The Bic Mac index has been published annually by The Economist since 1986 and is rated as a simplified indicator of a country’s individual purchasing power. As many countries have different currencies, the standardized Big Mac prices are calculated by converting the average national Big Mac prices with the latest exchange rate to U.S. dollars.

The Big Mac, as the top-selling McDonald’s burger, is used for comparison because it is available in almost every country and manufactured in a standardized size, composition and quality. McDonald’s is a worldwide operating fast food restaurant chain with headquarters in Oak Brook, Illinois. In Latin America, McDonald's largest franchisee is Arcos Dorados Holdings, with headquarters in Montevideo, Uruguay.

Inflation in Colombia

Over the past two decades, Colombia has generally seen a decline in the inflation rate, with a small upward trend as of 2023, reaching 11.39 percent. However, there are forecasts indicating a steady decline in the inflation rate for the next five years. In the year 2023, the annual inflation rate has been higher compared to previous years, particularly in the sectors of restaurants and hotels, which recorded an inflation rate of 18.6 percent, and in the basics of the food basket, including food and non-alcoholic beverages, with an inflation rate of 18.47 percent. This has placed Colombia at the seventh position among Latin American countries with the highest annual inflation rate in comparison to previous years as of 2022.