West Virginia and Kansas had the lowest cost of living across all U.S. states, with composite costs being half of those found in Hawaii. This was according to a composite index that compares prices for various goods and services on a state-by-state basis. In West Virginia, the cost of living index amounted to **** — well below the national benchmark of 100. Virginia— which had an index value of ***** — was only slightly above that benchmark. Expensive places to live included Hawaii, Massachusetts, and California. Housing costs in the U.S. Housing is usually the highest expense in a household’s budget. In 2023, the average house sold for approximately ******* U.S. dollars, but house prices in the Northeast and West regions were significantly higher. Conversely, the South had some of the least expensive housing. In West Virginia, Mississippi, and Louisiana, the median price of the typical single-family home was less than ******* U.S. dollars. That makes living expenses in these states significantly lower than in states such as Hawaii and California, where housing is much pricier. What other expenses affect the cost of living? Utility costs such as electricity, natural gas, water, and internet also influence the cost of living. In Alaska, Hawaii, and Connecticut, the average monthly utility cost exceeded *** U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.

Cost of Living Index data was reported at 7,726.308 1913=1 in 2017. This records an increase from the previous number of 7,642.160 1913=1 for 2016. Cost of Living Index data is updated yearly, averaging 5.167 1913=1 from Dec 1861 (Median) to 2017, with 157 observations. The data reached an all-time high of 7,726.308 1913=1 in 2017 and a record low of 0.766 1913=1 in 1865. Cost of Living Index data remains active status in CEIC and is reported by National Institute of Statistics. The data is categorized under Global Database’s Italy – Table IT.I030: Cost of Living Index: 1913=1.

Kazakhstan Cost of Living: Average per Capita: Region: Karagandinskaya data was reported at 27,666.000 KZT in Oct 2018. This records a decrease from the previous number of 27,737.000 KZT for Sep 2018. Kazakhstan Cost of Living: Average per Capita: Region: Karagandinskaya data is updated monthly, averaging 11,918.000 KZT from Oct 2000 (Median) to Oct 2018, with 217 observations. The data reached an all-time high of 28,240.000 KZT in Aug 2018 and a record low of 4,267.000 KZT in Oct 2000. Kazakhstan Cost of Living: Average per Capita: Region: Karagandinskaya data remains active status in CEIC and is reported by The Agency of Statistics of the Republic of Kazakhstan. The data is categorized under Global Database’s Kazakhstan – Table KZ.H012: Cost of Living: Average per Capita.

Cost of Living Index data was reported at 1,960.000 Oct1951=100 in Nov 2018. This stayed constant from the previous number of 1,960.000 Oct1951=100 for Oct 2018. Cost of Living Index data is updated monthly, averaging 978.000 Oct1951=100 from Oct 1951 (Median) to Nov 2018, with 806 observations. The data reached an all-time high of 1,960.000 Oct1951=100 in Nov 2018 and a record low of 98.000 Oct1951=100 in Mar 1955. Cost of Living Index data remains active status in CEIC and is reported by Statistics Finland. The data is categorized under Global Database’s Finland – Table FI.I014: Cost of Living Index: October 1951=100.

Turkey Cost of Living Index: 63=100: Istanbul: Monthly data was reported at 517,132,174.700 1963=100 in Oct 2018. This records an increase from the previous number of 509,020,201.200 1963=100 for Sep 2018. Turkey Cost of Living Index: 63=100: Istanbul: Monthly data is updated monthly, averaging 202,839.100 1963=100 from Jan 1964 (Median) to Oct 2018, with 658 observations. The data reached an all-time high of 517,132,174.700 1963=100 in Oct 2018 and a record low of 100.400 1963=100 in Aug 1964. Turkey Cost of Living Index: 63=100: Istanbul: Monthly data remains active status in CEIC and is reported by Istanbul Chamber of Commerce. The data is categorized under Global Database’s Turkey – Table TR.I015: Cost of Living Index: Wage Earners: Istanbul: 1963=100.

Morocco Living Cost Index data was reported at 187.800 1989=100 in Oct 2009. This records a decrease from the previous number of 189.900 1989=100 for Sep 2009. Morocco Living Cost Index data is updated monthly, averaging 155.700 1989=100 from Jan 1990 (Median) to Oct 2009, with 238 observations. The data reached an all-time high of 189.900 1989=100 in Sep 2009 and a record low of 104.100 1989=100 in Jan 1990. Morocco Living Cost Index data remains active status in CEIC and is reported by High Commission for Planning. The data is categorized under Global Database’s Morocco – Table MA.I006: Living Cost Index: 1989=100: by Industry.

This dataset provides values for CONSUMER PRICE INDEX CPI reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Analysis of ‘Socio-Economic Country Profiles’ provided by Analyst-2 (analyst-2.ai), based on source dataset retrieved from https://www.kaggle.com/nishanthsalian/socioeconomic-country-profiles on 28 January 2022.

--- Dataset description provided by original source is as follows ---

Context

There can be multiple motivations for analyzing country specific data, ranging from identifying successful approaches in healthcare policy to identifying business investment opportunities, and many more. Often, all these various goals would have to analyze a substantially overlapping set of parameters. Thus, it would be very good to have a broad set of country specific indicators at one place.

This data-set is an effort in that direction. Of-course there are still plenty more parameters out there. If anyone is interested to integrate more parameters to this dataset, you are more than welcome.

Content

This dataset contains about 95 statistical indicators of the 66 countries. It covers a broad spectrum of areas including

General Information Broader Economic Indicators Social Indicators Environmental & Infrastructure Indicators Military Spending Healthcare Indicators Trade Related Indicators e.t.c.

This data-set for the year 2017 is an amalgamation of data from SRK's Country Statistics - UNData, Numbeo and World Bank.

The entire data-set is contained in one file described below:

soci_econ_country_profiles.csv - The first column contains the country names followed by 95 columns containing the various indicator variables.

Acknowledgements

This is a data-set built on top of SRK's Country Statistics - UNData which was primarily sourced from UNData.

Additional data such as "Cost of living index", "Property price index", "Quality of life index" have been extracted from Numbeo and a number of metrics related to "trade", "healthcare", "military spending", "taxes" etc are extracted from World Bank data source. Given that this is an amalgamation of data from three different sources, only those countries(about 66) which have sufficient data across all the three sources are considered.

Please read the Numbeo terms of use and policieshere Please read the WorldBank terms of use and policies here Please read the UN terms of use and policies here

Photo Credits : Louis Maniquet on Unsplash

--- Original source retains full ownership of the source dataset ---

Analysis of ‘GapMinder - Income Inequality’ provided by Analyst-2 (analyst-2.ai), based on source dataset retrieved from https://www.kaggle.com/psterk/income-inequality on 28 January 2022.

--- Dataset description provided by original source is as follows ---

Content

This analysis focuses on income inequailty as measured by the Gini Index* and its association with economic metrics such as GDP per capita, investments as a % of GDP, and tax revenue as a % of GDP. One polical metric, EIU democracy index, is also included.

The data is for years 2006 - 2016

This investigation can be considered a starting point for complex questions such as:

1. Is a higher tax revenue as a % of GDP associated with less income inequality?
2. Is a higher EIU democracy index associated with less income inequality?
3. Is higher GDP per capita associated with less income inequality?
4. Is higher investments as a % of GDP associated with less income inequality?

This analysis uses the gapminder dataset from the Gapminder Foundation. The Gapminder Foundation is a non-profit venture registered in Stockholm, Sweden, that promotes sustainable global development and achievement of the United Nations Millennium Development Goals by increased use and understanding of statistics and other information about social, economic and environmental development at local, national and global levels.

*The Gini Index is a measure of statistical dispersion intended to represent the income or wealth distribution of a nation's residents, and is the most commonly used measurement of inequality. It was developed by the Italian statistician and sociologist Corrado Gini and published in his 1912 paper Variability and Mutability.

The dataset contains data from the following GapMinder datasets:

EIU Democracy Index:

"This democracy index is using the data from the Economist Inteligence Unit to express the quality of democracies as a number between 0 and 100. It's based on 60 different aspects of societies that are relevant to democracy universal suffrage for all adults, voter participation, perception of human rights protection and freedom to form organizations and parties. The democracy index is calculated from the 60 indicators, divided into five ""sub indexes"", which are:

1. Electoral pluralism index;
2. Government index;
3. Political participation indexm;
4. Political culture index;
5. Civil liberty index.

The sub-indexes are based on the sum of scores on roughly 12 indicators per sub-index, converted into a score between 0 and 100. (The Economist publishes the index with a scale from 0 to 10, but Gapminder has converted it to 0 to 100 to make it easier to communicate as a percentage.)" https://docs.google.com/spreadsheets/d/1d0noZrwAWxNBTDSfDgG06_aLGWUz4R6fgDhRaUZbDzE/edit#gid=935776888

Income: GDP per capita, constant PPP dollars

GDP per capita measures the value of everything produced in a country during a year, divided by the number of people. The unit is in international dollars, fixed 2011 prices. The data is adjusted for inflation and differences in the cost of living between countries, so-called PPP dollars. The end of the time series, between 1990 and 2016, uses the latest GDP per capita data from the World Bank, from their World Development Indicators. To go back in time before the World Bank series starts in 1990, we have used several sources, such as Angus Maddison. https://www.gapminder.org/data/documentation/gd001/

Investments (% of GDP)

Capital formation is a term used to describe the net capital accumulation during an accounting period for a particular country. The term refers to additions of capital goods, such as equipment, tools, transportation assets, and electricity. Countries need capital goods to replace the older ones that are used to produce goods and services. If a country cannot replace capital goods as they reach the end of their useful lives, production declines. Generally, the higher the capital formation of an economy, the faster an economy can grow its aggregate income.

Tax revenue (% of GDP)

refers to compulsory transfers to the central governement for public purposes. Does not include social security. https://data.worldbank.org/indicator/GC.TAX.TOTL.GD.ZS

Context

Gapminder is an independent Swedish foundation with no political, religious or economic affiliations. Gapminder is a fact tank, not a think tank. Gapminder fights devastating misconceptions about global development. Gapminder produces free teaching resources making the world understandable based on reliable statistics. Gapminder promotes a fact-based worldview everyone can understand. Gapminder collaborates with universities, UN, public agencies and non-governmental organizations. All Gapminder activities are governed by the board. We do not award grants. Gapminder Foundation is registered at Stockholm County Administration Board. Our constitution can be found here.

Acknowledgements

Thanks to gapminder.org for organizing the above datasets.

Inspiration

Below are some research questions associated with the data and some initial conclusions:

Research Question 1 - Is Income Inequality Getting Worse or Better in the Last 10 Years?

Answer:

Yes, it is getting better, improving from 38.7 to 37.3

On a continent basis, all were either declining or mostly flat, except for Africa.

Research Question 2 - What Top 10 Countries Have the Lowest and Highest Income Inequality?

Answer:

Lowest: Slovenia, Ukraine, Czech Republic, Norway, Slovak Republic, Denmark, Kazakhstan, Finland, Belarus,Kyrgyz Republic

Highest: Colombia, Lesotho, Honduras, Bolivia, Central African Republic, Zambia, Suriname, Namibia, Botswana, South Africa

Research Question 3 Is a higher tax revenue as a % of GDP associated with less income inequality?

Answer: No

Research Question 4 - Is Higher Income Per Person - GDP Per Capita associated with less income inequality?

Answer: No, but weak negative correlation.

Research Question 5 - Is Higher Investment as % GDP associated with less income inequality?

Answer: No

Research Question 6 - Is Higher EIU Democracy Index associated with less income inequality?

Answer: No, but weak negative correlation.

The above results suggest that there are other drivers for the overall reduction in income inequality. Futher analysis of additional factors should be undertaken.

--- Original source retains full ownership of the source dataset ---

Turkey Cost of Living Index: 63=100: Istanbul (IB) data was reported at 428,251,644.200 1963=100 in 2017. This records an increase from the previous number of 383,616,648.700 1963=100 for 2016. Turkey Cost of Living Index: 63=100: Istanbul (IB) data is updated yearly, averaging 12,568.000 1963=100 from Dec 1953 (Median) to 2017, with 65 observations. The data reached an all-time high of 428,251,644.200 1963=100 in 2017 and a record low of 40.100 1963=100 in 1953. Turkey Cost of Living Index: 63=100: Istanbul (IB) data remains active status in CEIC and is reported by Istanbul Chamber of Commerce. The data is categorized under Global Database’s Turkey – Table TR.I015: Cost of Living Index: Wage Earners: Istanbul: 1963=100.

Turkey Cost of Living Index: 95=100: Istanbul: Dwelling Expenses data was reported at 23,676.100 1995=100 in Oct 2018. This records an increase from the previous number of 23,327.800 1995=100 for Sep 2018. Turkey Cost of Living Index: 95=100: Istanbul: Dwelling Expenses data is updated monthly, averaging 9,291.150 1995=100 from Jan 1996 (Median) to Oct 2018, with 274 observations. The data reached an all-time high of 23,676.100 1995=100 in Oct 2018 and a record low of 150.600 1995=100 in Jan 1996. Turkey Cost of Living Index: 95=100: Istanbul: Dwelling Expenses data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.I012: Cost of Living Index: Wage Earners: Istanbul: 1995=100.

Russia Living Cost: Average per Month data was reported at 10,213.000 RUB in Dec 2018. This records a decrease from the previous number of 10,451.000 RUB for Sep 2018. Russia Living Cost: Average per Month data is updated quarterly, averaging 3,050.000 RUB from Mar 1992 (Median) to Dec 2018, with 108 observations. The data reached an all-time high of 10,451.000 RUB in Sep 2018 and a record low of 1.423 RUB in Jun 1992. Russia Living Cost: Average per Month data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HF001: Living Cost.

Morocco Living Cost Index: Fes data was reported at 187.800 1989=100 in Oct 2009. This records a decrease from the previous number of 191.300 1989=100 for Sep 2009. Morocco Living Cost Index: Fes data is updated monthly, averaging 158.600 1989=100 from Jan 1994 (Median) to Oct 2009, with 190 observations. The data reached an all-time high of 192.300 1989=100 in Apr 2009 and a record low of 131.120 1989=100 in Jan 1994. Morocco Living Cost Index: Fes data remains active status in CEIC and is reported by High Commission for Planning. The data is categorized under Global Database’s Morocco – Table MA.I008: Living Cost Index: 1989=100: by Region.

Kazakhstan Cost of Living: Average per Capita: City: Shymkent data was reported at 26,400.000 KZT in Oct 2018. This records an increase from the previous number of 26,207.000 KZT for Sep 2018. Kazakhstan Cost of Living: Average per Capita: City: Shymkent data is updated monthly, averaging 26,195.000 KZT from Jun 2018 (Median) to Oct 2018, with 5 observations. The data reached an all-time high of 26,400.000 KZT in Oct 2018 and a record low of 24,740.000 KZT in Jul 2018. Kazakhstan Cost of Living: Average per Capita: City: Shymkent data remains active status in CEIC and is reported by The Agency of Statistics of the Republic of Kazakhstan. The data is categorized under Global Database’s Kazakhstan – Table KZ.H012: Cost of Living: Average per Capita.

Living Cost: Average per Month: NC: Chechen Republic data was reported at 11,240.000 RUB in Dec 2020. This records a decrease from the previous number of 11,333.000 RUB for Sep 2020. Living Cost: Average per Month: NC: Chechen Republic data is updated quarterly, averaging 6,555.000 RUB from Sep 2003 (Median) to Dec 2020, with 70 observations. The data reached an all-time high of 11,333.000 RUB in Sep 2020 and a record low of 2,129.000 RUB in Sep 2003. Living Cost: Average per Month: NC: Chechen Republic data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HF001: Living Cost.

Kazakhstan Cost of Living: Average per Capita: Region: Zhambylskaya data was reported at 24,853.000 KZT in Jun 2018. This records an increase from the previous number of 23,873.000 KZT for May 2018. Kazakhstan Cost of Living: Average per Capita: Region: Zhambylskaya data is updated monthly, averaging 11,321.000 KZT from Oct 2000 (Median) to Jun 2018, with 213 observations. The data reached an all-time high of 24,853.000 KZT in Jun 2018 and a record low of 3,326.000 KZT in Oct 2000. Kazakhstan Cost of Living: Average per Capita: Region: Zhambylskaya data remains active status in CEIC and is reported by The Agency of Statistics of the Republic of Kazakhstan. The data is categorized under Global Database’s Kazakhstan – Table KZ.H012: Cost of Living: Average per Capita.

Living Cost: Average per Month: Volga Region Federal District (VR): Republic of Bashkortostan data was reported at 9,834.000 RUB in Dec 2020. This records a decrease from the previous number of 9,908.000 RUB for Sep 2020. Living Cost: Average per Month: Volga Region Federal District (VR): Republic of Bashkortostan data is updated quarterly, averaging 5,407.000 RUB from Jun 2001 (Median) to Dec 2020, with 79 observations. The data reached an all-time high of 10,015.000 RUB in Jun 2020 and a record low of 1,333.000 RUB in Sep 2001. Living Cost: Average per Month: Volga Region Federal District (VR): Republic of Bashkortostan data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HF001: Living Cost.

Turkey Cost of Living Index: 68=100: Istanbul: Foodstuffs data was reported at 325,110,934.400 1968=100 in Oct 2018. This records an increase from the previous number of 322,846,781.000 1968=100 for Sep 2018. Turkey Cost of Living Index: 68=100: Istanbul: Foodstuffs data is updated monthly, averaging 10,443,842.350 1968=100 from Jan 1978 (Median) to Oct 2018, with 490 observations. The data reached an all-time high of 325,110,934.400 1968=100 in Oct 2018 and a record low of 498.500 1968=100 in Jan 1978. Turkey Cost of Living Index: 68=100: Istanbul: Foodstuffs data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.I014: Cost of Living Index: Wage Earners: Istanbul: 1968=100.

Turkey Cost of Living Index: 68=100: Istanbul: Heating & Lighting Articles data was reported at 550,472,074.800 1968=100 in Oct 2018. This records a decrease from the previous number of 554,752,963.100 1968=100 for Sep 2018. Turkey Cost of Living Index: 68=100: Istanbul: Heating & Lighting Articles data is updated monthly, averaging 14,577,039.700 1968=100 from Jan 1978 (Median) to Oct 2018, with 490 observations. The data reached an all-time high of 554,752,963.100 1968=100 in Sep 2018 and a record low of 552.100 1968=100 in Jan 1978. Turkey Cost of Living Index: 68=100: Istanbul: Heating & Lighting Articles data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.I014: Cost of Living Index: Wage Earners: Istanbul: 1968=100.

Living Cost: Average per Month: FE: Kamchatka Territory data was reported at 21,524.000 RUB in Dec 2020. This records a decrease from the previous number of 21,797.000 RUB for Sep 2020. Living Cost: Average per Month: FE: Kamchatka Territory data is updated quarterly, averaging 12,478.000 RUB from Sep 2001 (Median) to Dec 2020, with 78 observations. The data reached an all-time high of 21,797.000 RUB in Sep 2020 and a record low of 3,014.000 RUB in Sep 2001. Living Cost: Average per Month: FE: Kamchatka Territory data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HF001: Living Cost.