A. Prices and terms of trade

For consumers, the costs are in terms of higher prices and less variety.

Moreover, we are now experiencing a fundamental change in expectations about oil prices not only are today s prices quite high in real terms by historical standards, but the futures markets indicate that prices are expected to remain high for years to come. In contrast, real oil prices were flat leading up to 1929, and down nearly 50 in real terms from the 1925 6 fuel folly peaks.

The prohibited discrimination relates not only to prices but also to the other terms of the transaction.

In 1979 the scheme was further modified by a switch to a system of food stamps (denominated in monetary terms) and by bringing certain food prices more into line with world prices.

Many delegations drew attention to the continuing volatility of primary commodity prices and to the fact that in real terms commodity prices are still lower today than they were some 20 years ago.

In the face of relatively stagnant markets, volatile prices and declining terms of trade, investment dropped further, diversification stalled and productivity remained stagnant.

Nonetheless, the auditors believe that contract renewal should be competitively bid to ensure that the mission achieved the best terms and prices.

And when there are fewer assets to be held, their prices rise, too. With higher financial asset prices, those firms that ought to be expanding and hiring will be able to get money on more attractive terms.

3. Notes the need expressed by developing countries, in particular the commodity dependent developing countries, for stable and more predictable commodity prices, in the face of instability and decline in real terms of the prices of many commodities

1. Notes the need of the developing countries, in particular the commodity dependent developing countries, for stable and more predictable commodity prices in the face of instability and decline in real terms of the prices of many commodities

Over the last three decades, prices in the US and Europe have tended to follow three slow moving, related boom bust cycles. All previous peaks were followed by several years of declining prices (in real terms).

Over the last three decades, prices in the US and Europe have tended to follow three slow moving, related boom bust cycles. All previous peaks were followed by several years of declining prices (in real terms).

Meanwhile, free trade negotiations seem to ignore historical trends. Developing countries international terms of trade have worsened prices of primary commodities have declined in relation to manufactures, as have tropical agriculture prices against temperate agriculture, and prices of generic manufactures have fallen relative to output protected by intellectual property rights.

Because many contracts are sticky (that is, not easily revised) in monetary terms, inflation and deflation would both inflict damage on the economy. Rising prices reduce the value of savings and pensions, while falling prices reduce profit expectations, encourage hoarding, and increase the real burden of debt.

Lack of adequate physical infrastructure and human resources development, declining commodity prices, adverse terms of trade and natural and man made disasters contribute to negative economic growth for most LDCs.

27. From 1991 to 1995 the Dominican GDP at 1970 prices grew at a rate of 1.22 and in real per capita terms recorded an increase of 1.13 .

In terms of retail sales, the prices of gasoline at No. 92 and No. 95 of Beijing CNPC and Sinopec gas stations are 7.66 yuan liter and 8.15 yuan liter respectively.

Heroin prices declined fairly steadily, however in 1994 they were around 40 per cent of the 1983 price in real terms and purity levels were reported to be increasing.

The clear expression of specific duties in ad valorem terms would substantially facilitate the evaluation of their incidence on prices and trade in the countries concerned and by their trading partners.

It is now recognized that some of the assumptions built into the HIPC programmes were over optimistic in terms of GDP and the evolution of commodity prices, among other variables.

But, until recently, the divergences were viewed in terms of interests, not philosophies. Americans wanted additional demand for their goods and higher prices, while the Germans and Japanese defended their export industries.

Buoyant external demand, higher commodity prices and improved terms of trade (an increase of 7.4 percentage points from 1994 to 1996) were the immediate and main factors responsible for these export gains.

The most reliable index of comparable house prices has continued to decline month after month, and prices are now about 7 lower in real terms than a year ago, implying a 1 trillion loss of household wealth. With roughly 25 of all homeowners with mortgages owing more than their homes are worth, the decline in house prices reflects high rates of default and foreclosure.

This divergence in the domestic terms of trade in comparison with movements in world prices existed during the pre reform years as well as the reform years.

Oil Prices and Global Growth

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Update Stock and Currency Prices

Oil prices rose throughout 2004, with accelerating fluctuation as prices peaked in August and October.

Prices

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Average ratio of border prices to world market prices,

Energy and fuel prices and taxes

11. The Secretary General of UNCTAD stressed that the Asian crisis had hit the poor particularly hard, in terms of sharp falls in commodities and in the export prices of some goods.

Wholesale prices followed trends similar to those of retail prices.

Buying foreign gold did succeed in driving down the dollar s value in terms of gold. But domestic prices continued falling throughout the three months of the gold buying spree.

This makes the continuing deterioration in their terms of trade of special concern, even if there is some recent evidence of improvement in the prices of some primary commodities.

Prices depend on supply and demand.

Levels of prices and mark ups,

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Prescribed prices

Consumer prices

It was widely agreed that the long run trend decline in the terms of trade of most non oil commodity prices (when measured against the prices of manufactured goods) and volatile swings around the long term price trend of commodities had adversely influenced many low income countries' capacity to benefit from trade.