Australia has fallen 14 places on the CommSec iPhone index, meaning it is now the 18th cheapest place in the world to buy a new iPhone.
In USD, it now costs an Australian $875.18 to snag a new iPhone 11 64GB, compared to the US, where you can pick up a device for $699.
Australia was behind the likes of Saudi Arabia, India, Slovakia, Canada, Mexico and Thailand on the list.
And while new iPhones are notoriously expensive, spare a thought for any Apple fans living in Argentina, who can expect to fork out $US1,964 for a new phone.
The AUD has gone from US68-69 cents in 2019 – when Australian finished 4th on the list – to closer to US72-73 this year, meaning Australia has fallen way behind on the global leaderboard of cheap iPhone countries.
CommSec launched the index way back in 2007 (then called the iPod index) as a way of testing purchasing power theory across the world – the theory that the same good should be sold for the same price across the globe once taking into account exchange rates.
The release of the report comes as Apple fans eagerly await the release of the next iPhone, expected to be the iPhone 12.
Apple launched a new Apple Watch and iPad in a special launch event earlier this week.
The new iPhone is expected to hit the shelves next month.
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