We Found the World's Cheapest Ikea Billy Bookcase

Buying new furniture?

Be thankful if you're in Slovakia, where Ikea's iconic Billy bookcase is the cheapest among almost 50 countries surveyed by Bloomberg. The price of $39.35 (when converted from the local currency) is less than half the cost in Egypt. The north African nation is the most expensive on the list, at $101.55.

While much of the developed world is struggling to revive inflation -- prices are falling in the euro area (which includes Slovakia) -- Egypt is facing rampant price growth. Urban inflation was 9.2 percent last month and accelerated to more than 13 percent earlier this year.

More than 41 million Billy bookcases have been sold since the product was introduced in 1979, so there's a good chance there's one in your house somewhere. The version assessed for the index is a white bookcase, 202 centimeters (79.5 inches) high, 80 cm wide and 28 cm deep.

The average price among the 48 countries surveyed was $58.10, with the U.S. at the upper end of the range at $69.99 following a 17 percent price hike, up $10 from the last survey. In Switzerland, whose largest city Zurich often ranks among the world's most expensive, the dollar price came in at $51.43.

Prices for the bookcase were taken from the 2016 catalogue on the Ikea website, then converted to dollars on Oct. 12 at the average exchange rate over the previous 30 days.