Lies, Damned Lies, and Exchange Rates

According to today’s The Age: RISING living costs and a surging Australian dollar mean it is now more expensive to live in Melbourne, Sydney, Brisbane and Perth than in London, Vienna, Rome or New York. A startling claim, I’m sure you’ll agree, but something doesn’t quite ring true for me about this. Why should a “surging Australian dollar” make it more expensive to live in an Australian city? A surging Australian dollar might make it…

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