TNAG-1483-FCO40-2037-Economic-situation-in-Hong-Kong-1986 — Page 232

4.12

Over the

funds increased on

(13)

real terms

•

same period, salaries paid from public

average by 13% in money terms, or 11% in

4.13

Between March 1985 and March 1986, construction wage

rates increased by 5% in money terms, or 3% in real

terms

(14)

(13) To arrive at the 11% increase in real terms, the rate of increase in

consumer prices (as represented by the Consumer Price Index (A)) between March 1985 and March 1986 was used in deflating the increase during the same period of 13% in money terms in salaries paid from public funds (made up of a 10% increase in April 1985 and a 3% increase in January 1986). In comparison, salaries paid from public funds increased by 6% in real terms during the twelve months ending March 1985, having declined by 4% in real terms during the twelve months ending March 1984. The corresponding changes in payroll per person engaged in the services sectors were an increase of 8% and no change.

(14)

Latest information shows that construction wage rates increased by 6% in money terms, or 3% in real terms, between June 1985 and June 1986.

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