Perhaps you are curious if weights for cost of living index at this website are well balanced? The weights are best guess. So how good is our best guess for weights? For example today I wanted to check gasoline consumption per capita to see if weight for it is well balanced. The relevant document is at : consumption of gasoline per capita.
Consumption in Europe is most likely most relevant as middle income countries with average fuel consumption. Europe had per capita is 257 liter of gasoline consumption per year in 2005.
Weights in Numbeo.com statistical model are based on consumption for family of 4, and in Europe it is 1028 liter yearly or 85.66 liters monthly. And our best guess was 80 liters per month for the family. Since between 2000 and 2005 gasoline consumption per capita lowered in Europe, I’m concluding that our weights for gasoline are excellently balanced.
I hope you can now trust more the way how cost of living index at Numbeo.com website is calculated. If you think that some weights are not good balanced, just drop me an email with explanation. I performed some research for weight balancing. It hope you will find interesting cost of living indexes next year at Numbeo.com.
In comparison to London, are there cities in UK, where cost of living is cheaper? Are there accommodation on sharing basis in London?
ReplyDelete