Inflation remains high around the world as food and household prices rise as greater costs are passed on to consumers. Items like margarine and printer paper have seen particularly large rises in many countries, up by an average of 26% and 29% respectively in the past year across the nearly 500 locations ECA surveys.
However, large variations in exchange rates have had the biggest impact on cost of living indices for many expatriates. The US dollar has been very strong in the six months to September 2022 as the US Federal Reserve raised interest rates further and faster than other central banks to fight inflation. Meanwhile, the euro, pound and especially the yen all weakened significantly over the same period. As you will read below these differences mean your employees in a country can experience quite different changes to cost of living indices depending on their home locations. The information below and support from ECA’s expert advisors can help you support your assignees whatever the situation.
Use the interactive map below to find out more about how various factors affected indices in the countries where you have assignees. Simply choose a home location from the dropdown and learn more about how cost of living indices changed in the six months to September 2022. Exchange rate changes, inflation and index change indicator will vary depending on the home location selected and are based on ECA's default standard home-based index and may change if different assumptions are used.
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ECA's interim surveys
While there are signs that inflation has peaked in some countries, rates are likely to remain high into next year. Fortunately for those managing assignees around the world, ECA surveys high inflation locations quarterly and in December will cover 21 countries, more than ever before.
We are currently undertaking interim surveys for the following countries due to high inflation expectations: Argentina, Cuba, Egypt, Ethiopia, Ghana, Haiti, Iran, Laos, Lebanon, Myanmar, Nigeria, Pakistan, Sierra Leone, South Sudan, Sri Lanka, Sudan, Surinam, Turkey, Ukraine, Venezuela and Zimbabwe. The results will be available in January 2023.
FIND OUT MORE
Please contact us to speak to a member of our team directly.
If you require advice regarding currency fluctuations, or would like additional information or data on any of the 490+ locations included in our survey, please get in touch.