Hi I was reading this Wikipedia article. According to the article the economy of the United States is used as a reference, and is set at 100. Bermuda has the highest index value at 154; this means that goods sold there are more expensive than in the US. In other words, if something costs $1 in the US, then in the Bermuda it would cost $1.54. It's just like thinking that if the every country was using the same currency, then how much you would pay to buy an identical item at different places in the world. According to the map below, India is one the least expensive place.