Translated from the BBC Brasil piece in Portuguese found here

Brasil is the country that sells the most expensive iPod in the world, according to a new Commonwealth Bank of Australia index that compares global currencies and buying power across 55 countries, says news agency Reuters.

In the same mold as the ‘Big Mac’ index release by The Economist 20 years ago the bank compares the price of a 4GB video nano iPod and concludes that, in Brazil, the device costs US$369.91 (about $675 Reais).

The least expensive iPod, according to the list, is sold in Hong Kong for US$148.12 (about R$270).

The second most expensive country is Bulgaria, where the device is sold for US$318.60 (around R$582).

Inside the Euro zone the iPod is also sold at different prices, the least expensive iPod being found in Greece, for US$196.51 (about R$359).

Research regarding buying power compares the price of a certain product in different countries and helps to show how a particular currency compares in value to another.

Economist Craig James from the Commonwealth Bank told Reuters that the results show the dollar’s continued fall in relation to global currencies.

“They also underline the effects of tariffs and import taxes in different countries. Brazilians and Argentinians, probably, will go outside the country to shop,” he explained.

Argentina is the country with the third-highest price for an iPod. There the 4GB nano costs US$317.45 (about R$580).

Editor’s note: The quotes from Craig James, it should be noted, are here presented as back-translated as his original comments were in English. This is a translation of the translation.