TNAG-2977-FCO40-1469-Economic-policy-in-Hong-Kong-1982 — Page 37

real terms.

Over

import/export) trades, increased by 7% and 6% respectively in

the same twelve months, the upward

adjustment in civil service salaries represents an increase of

4/ in real terms due to the slowing down in the rate of

inflation.

4.10

Construction wage rates increased by 2% in money

terms during the third quarter, making a total increase of 13%

during the twelve months ending September 1982(5). As the

rate of inflation was lower, there was some increase in real

terms.

(5)

Index of construction wage rates (January 1970=100)

% change on

Index

a year ago

1980

Mar

.457.4

15.4

Jun

472.1

14.3

Sep

488.8

12.8

Dec

517.4

14.9

1981

Mar

533.6

16.7

Jun

544.3

15.3

Sep

550.1

12.5

Dec

572.6

10.7

1982

Mar

598.4

12.1

Jun

611.7

12.4

Sep

321.0

12.9

24