Switzerland, the most expensive economy

WASHINGTON — Switzerland is the world's most expensive economy, followed by Norway, Bermuda, Australia and Denmark, according to a new ranking by the World Bank. The economies with the lowest prices are Egypt, Pakistan, Myanmar, Ethiopia and Laos, according to a review of economic data which seeks to compensate for exchange rate effects and measure spending power across countries. The U.S. was in relatively affordable 25th place, lower than most other high-income countries. The countries with the highest gross domestic product (GDP) per capita on a purchasing power parity basis, were Qatar, Macao, Luxembourg, Kuwait, and Brunei.

Eight countries, including Malawi, Mozambique and Liberia, had GDP per capita of less than $1,000. Half the world's $90.6 trillion in total economic output in 2011 came from low- and middle- income countries, the World Bank said.