Photo: Helena Nacinovic via Flickr
Business in Brazil may be booming, but the influx of foreign investment and fast pace of growth have wreaked havoc on the nation’s currency.The Brazilian real is now considered by some to be the world’s most overvalued currency, meaning that daily life in the country has become incredibly expensive, according to a recent article in the Wall Street Journal.
Price tags on everything from cans of Coca Cola to apartments are suddenly higher in Brazil than they are in New York.
This is a major problem for Brazilian manufacturers, who fear the skyrocketing costs will prevent them from doing business with other countries.
It’s also a problem for citizens who have seen prices increase even as their paychecks have remained stagnant.
We’ve rounded up some of the most outrageous living costs that are now commonplace in Brazil.
A luxury, two-bedroom apartment in São Paulo costs $2,397 per month. A comparable apartment in Miami costs $2,000.
In the U.S., you'd spend around $21,000 on a new Volkswagen Golf. An equivalent car in Brazil would cost $27,000.
If you pick up an international newspaper in Manhattan, it will set you back $2.50. The same paper in Rio costs $9.59.
In the U.S., a summer dress at a chain store like H&M costs around $38. A similar dress from an equivalent Brazilian chain will cost $76.
Office space in Rio costs $120 per square foot per year. That's more than in New York, where businesses pay $115 per square foot.
In America, a basic pair of Levi's jeans costs around $40. In Brazil the same pair costs nearly three times as much.
At least the beer is still cheap (kind of). A domestic brew in Brazil costs around $1.61 per bottle, while in the U.S. a domestic beer costs $2.38.
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