Explaining changes in cost of living indices to your assignees and other stakeholders can be a real challenge, especially when high inflation or volatile currency movements are involved. Fortunately, ECA has a range of tools to help.
As it's always popular with our clients, we have once again created a map to help you understand and explain recent index changes in some of the more volatile locations (see below). Our Cost of Living Calculator’s Index Changes feature is also super helpful.
So, onto our interactive map! Simply choose a home location from the dropdown and learn more about how cost of living indices changed in the six months to March 2024. Exchange rate changes, inflation and index change indicators will vary depending on the home location selected and are based on ECA's default standard home-based index; they may change if different assumptions are used.
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Post-survey developments
The information in this blog describes the changes up to the March 2024 Cost of Living Survey but in some countries circumstances can change quickly. That is why we carry out extra surveys for high inflation countries (see below) and publish regular blogs on exchange rate changes around the world, so you can be prepared for anything.
Sign up to ECA's blog alerts to make sure you stay up to date with the latest exchange rate and inflation news.
ECA's interim surveys
While inflation has fallen in much of the world there are still some countries where it remains very high and it is essential to have up-to-date information. Fortunately for those managing assignees around the world, ECA surveys high inflation locations quarterly and in June 2024 will cover 12 countries.
We are currently undertaking interim surveys for the following countries due to high inflation expectations: Angola, Argentina, Egypt, Iran, Laos, Malawi, Nigeria, Sierra Leone, South Sudan, Turkey, Venezuela and Zambia. The results will be available in July 2024.
FIND OUT MORE
If you need advice regarding currency fluctuations, or would like additional information or data on any of the locations included in our survey, please get in touch.
ECA publishes cost of living data for more than 500 locations around the world. Learn more about ECA’s cost of living data by downloading our FREE cost of living white paper which explains how ECA's indices are calculated and applied to protect the buying power of people moving between countries as well as looking at what causes them to change over time.
Our cost of living data is available as part of a subscription or as one-off calculations. It is also built in to ECA’s Build-up, Net-to-Net and Cost Estimate Calculators which enable calculations in seconds. Cost of living data is also pre-populated in ECAEnterprise, our Assignment Management System.
Please contact us to speak to a member of our team directly.