The Big Mac Index, published by The Economist since 1986, uses the price of a McDonald's Big Mac burger in different countries as a lighthearted way to measure purchasing power parity and determine if currencies are undervalued or overvalued. The index compares the local price of a Big Mac in one country to the price in the United States, with large differences suggesting the local currency may not be at an optimal level against the U.S. dollar based on purchasing power. For example, when the average Big Mac price in the U.S. was $4.37 and in China was $2.87, the index estimated the Chinese yuan was undervalued by 41% at that time based on purchasing power.