The iPod nano as a measure for purchasing power

One of Australia's largest bank used the latest 4GB iPod nano as a way to compare global currency and purchasing power of 55 countries. Reuters reported that according to the Commonwealth Bank in Australia, the cheapest place to buy a nano right now is in Hong Kong while it's best to avoid Brazil when you are thinking of getting one of Apple's shiny new toys.

With their third generation 4GB iPod nano selling at $148, Hong Kong is in the 55th place. Brazil in on top of the list with Brazilians having to shell out $369 for a nano. That's 150% more expensive as compared to Hong Kong. Also, it's $1 cheaper to buy in Hong Kong as compared to the US, which placed 54th. The Philippines is in the 38th place at $198.