Big Mac index. Doesn't purchasing power affect price?

Question

Payment systems

There is such a thing as the Big Mac index. Recently, it has often appeared in the news that, according to this index, the ruble is currently undervalued by about 70%. It compares the price of a Big Mac in different countries and, based on the differences in this price, it is concluded that this or that currency is undervalued or vice versa. But I have, it seems to me, a reasonable question: does the purchasing power of the population not affect the price of a Big Mac in a particular country? If the population is poor, then what is the point of selling a Big Mac for $5, and if the population is rich, then there is a point. And then where is the real value of the currency in general? Cucumbers, a cutlet and a bun are not bought from the United States for foreign currency, for example, but are made on the spot from local products at the lowest prices available here. If the Big Mac is selling cheap, it's not because the currency is undervalued, but because that it was possible to make it here at such a price, and only at such a price it makes sense to sell it here. Is not it? Explain, please, on the fingers, who can!

Answer 1

Yes, everything is so :)
it's the media, everything is fine

Answer 2

If I'm not mistaken, the Big Mac index just serves to calculate purchasing power parity :)

Answer 3

Everything adds up to the dollar, that's all. And purchasing power greatly influences the price. Buy more, make cheaper. It's supply and demand, basic economics. There is nothing difficult. This is franchising, if we take the example of McDuck