of
increase in
consumer
prices (1).
Movements in
exchange
rates in recent months have caused the unit value index of imports of food to decline slightly since October. Although
the unit value index of imports of raw materials and
semi-manufactures has increased by 38 since November, for
certain raw materials, such as raw cotton, import prices have
in fact declined
The unit value indexes for the various
(2).
import categories in recent months are:
Unit value indexes of
imports by end-use categories (1981-100)
Raw materials
Food
Consumer
goods
Fuels
and semi- manufactures
Capital All
goods
imports
1981 Aug
102
100
106
102
102
102
Sep 104
101
106
104
105
103
Oct 108
100
106
106
106
105
Nov 107
104
101
105
112
105
Dec 107
102
99
104
113
104
1982 Jan 106
106
98
107
105
107
Feb 105
106
98
108
113
107
Prices of output
6.4
The prices of manufacturing output, as reflected by
the unit value index of domestic exports, increased by 88 during 1981. As the declared value for domestic exports is
translated from the foreign currency value using the
prevailing exchange rate to the extent that export receipts
are denominated in foreign currency,
a depreciation of the
/ Hong
(1) See footnote (4) below.
(2)
The unit value index of imports of raw cotton (1981-100) was 88 in February 1982, compared with 110 in November
1981.
38
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