TNAG-2977-FCO40-1469-Economic-policy-in-Hong-Kong-1982 — Page 155

Import prices

6.3

Import prices, as measured by the unit value index of

imports, were on average 10% higher in the first half of 1982

than in the first half of 1981. There was no increase during the six months ending May, compared with an increase of

of 7% during the previous six months. This trend applies to prices for all the five major end-use categories of imports. To a

certain extent, this reflects the effects of the gradual

strengthening of the import-weighted exchange rate index for

the Hong Kong dollar. The softening of world commodity prices

has also contributed

A comparison of the rates of

increase in unit value indexes of the five major end-use categories of imports between the two six-month periods, May

1981 to November 1981 and November 1981 to May 1982, is given

below:

(2).

/ Prices

(2) Some examples of movements in world commodity prices are given below:

Indexes (1975=100)

All commodities

Food Cotton Petroleum

Sugar

1981 Nov

134.3

102.7

128.6

317.2

80.5

Dec

132.5

102.0

121.3

317.2

80.7

1982 Jan

133.1

102.4

128.6

317.2

79.9

Feb

132.9

100.4

125.5

317.2

78.2

Mar

127.5

96.3

130.2

317.2

76.5

Source:

International Financial Statistics, Volume XXXV, Number 5,

May 1982.

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