Great question — answering as the UphillTech team:
There are different ways to compare price levels between countries. The Consumer Price Index as e.g. repoerted by numbeo.com (which, in this form, is actually more a purchasing power parity index; see @MarcelC.'s answer ) can be pretty good: Consumer Price Excl. Rent Index (CPI) is relative indicator of consumer goods price, including groceries, restaurants, transportation and utilities. CPI Index doesn't include accomodation expenses such as rent or mortgage. If city has CPI index of 120, it means Numbeo estimates it is 20% more expensive than New York (excluding rent). The only thing that a typical traveller won't need are utilities ( have a look at the list of goods they included ,...
Full answer by Jonas: https://travel.stackexchange.com/a/13634 (CC BY-SA 3.0).
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