How expensive is Prague?
While cost of living assessments typically place the Czech capital near the center among major cities worldwide, prices of standardized consumer goods – whose actual value should remain a constant internationally – can sometimes paint a different picture.
The annual Big Mac Index, for example, measures the price of a McDonald’s hamburger in countries across the globe. In the latest Big Mac Index, published in July 2019, an 85 crown ($3.73) Big Mac in the Czech Republic comes in at #21 out of 56 countries measured, or in the upper 40%.
Similar to the Big Mac Index, which has been published annually by The Economist since 1986, a new Starbucks Index from Finder.com measures the cost of a tall latte at cities with a Starbucks location around the globe – and these results showcase a different view on the purchasing power in Prague and the Czech Republic.
At 69 crowns ($2.94), the price of a tall latte at a Starbucks in Prague rates among the cheapest in any of the cities measured. At total of 76 cities were included in the poll, with Prague landing in at #58, or in the lower 25%.
Most expensive coffee in the world? A tall latte in Copenhagen goes for more than twice the Prague price at a whopping $6.05, or about 140 crowns. No surprises: Scandanavian Starbucks locations were among the most expensive, with Vantaa (Finland) coming in at #3 and Oslo (Norway) at #6.
Starbucks lattes in Switzerland, Germany and Luxembourg also came out pricy, but the most expensive cuppas weren’t only in Europe: Hong Kong, Macau, and Singapore also rated among the top 10.
On the other end of the spectrum, a tall Starbucks latte in Istanbul rings up at $1.78 (about 40 crowns), while a Cairo cuppa also came in at less than $2.
While a tall latte in Prague typically runs for 69 crowns, the price isn’t set across the city – locations in Malá Strana by Prague Castle charge 79 crowns for a tall latte.