(a) A phased approach in the elimination of the 1.5 per cent reduction in the first consumer price index adjustments

(Based on consumer price indices and actual versus budgeted cost of living adjustments)

a Changes in the consumer price index.

(i) Composite Consumer Price Index (CPI)7

The in area portion of the post adjustment index of a duty station is updated independently on the basis of the local consumer price index in the country of the duty station.

The adjustments were made in accordance with the movement of the United States consumer price index (CPI) and, if applicable, of the CPI of the country of residence, subject to the requirement that the relevant index had moved by at least 3 per cent since the last adjustment.

During the period from 2006 till 2010 the consumer price index and the 25 wage index will be applied to all pensions which will not exceed the amount equal to five times the state social insurance benefit, while as of 2011 50 of the actual increase in the insurance contribution wages will be used in the consumer price wages index.

It noted that in the current exercise, the flat rates had been updated by the movements of the consumer price index between the date of the last adjustment and the date of the current review.

(a) In most places three price indices consumer, wage or a combination of the two were variously used for interim adjustment

2 Refers to the national consumer price index for families with incomes not exceeding one minimum wage.

33. The post adjustment index for a given location measures the living costs of staff at that location vis à vis the base city at a specific date.

The consumer price index rose only 2.1 per cent in 1997.

134. On the subject of the relationship between post adjustment increases at the base and other duty stations, it was noted that the post adjustment index for New York was updated over time by the United States Bureau of Labor Statistics consumer price index, and the remuneration in New York was adjusted periodically through the application of the post adjustment system using the revised index.

Until 2002 pensions were indexed by the consumer price index on regular basis, however as of 2002 changes in the insurance contribution wages will also be taken into consideration in the indexation of pensions.

Annual growth rates of minimum wage and consumer price indices are as follows

(d) Obtain the required 3.5 per cent annualized real rate of return for the investments of the Fund over the long term after adjustment based on the United States consumer price index.

The Intersecretariat Working Group on Price Statistics, having completed work on best practice manuals for consumer and producer price indices, made progress in drafting a parallel manual on export and import price indices.

These are based on promulgated post adjustment multipliers and the latest available information on consumer price indices.

7 The Composite CPI is compiled on the basis of the expenditure patterns of about 90 of Hong Kong households with an average monthly expenditure of HK 4,500 to HK 65,999 in the base period of October 1999 to September 2000.

The amounts of pensions shall be increased annually in line with the increase in the national consumer price index for the previous year.

But that will not be true this year, because consumer prices are falling, whereas the GDP deflator (and nominal GDP) is still increasing. This should lead to solid government revenues, which is good news for highly indebted governments throughout the industrialized world, but particularly for the eurozone periphery.

With respect to inflation, consideration is given, as necessary, to a series of factors, including analysis of the movement of the consumer price index at the different duty stations for goods and services and probable increases in the salaries of General Service staff as a result of the movement of consumer price indices and the outcome of comprehensive salary surveys.

If the CPI changed by 10 per cent or more since the last adjustment, then a further adjustment would be made as of 1 October of that year.

The amount recommended by the Advisory Committee takes into account that the practice in the United Nations has been to adjust remuneration to a level somewhat less than 100 per cent with respect to the movement of the CPI.

With regard to inflation, the adjustments are based on the latest information available on consumer price indices as well as adjustments resulting from differences in actual post adjustment indices for staff in the Professional category and above and actual cost of living adjustments of salary scales for staff in the General Service and related categories compared with the assumptions made in the revised appropriations.

With regard to inflation, the adjustments are based on the latest information available on consumer price indices and adjustments resulting from differences in actual post adjustment indices for staff in the Professional category and above, and actual cost of living adjustments of salary scales for staff in the General Service and related categories compared with the assumptions made in the revised appropriations.

Once a year (starting in 1996) the family allowance will be subject to indexation on the basis of the increase in the price of consumer goods and services.

Increase in and adaptation of the parameter for the updating of pensions awarded under the Act in force until 30 June 1997 to that of the Act now in force, i.e., approval of the parameter for pension increases in both regimes so that all pensions will be updated in line with the national consumer price index.

With respect to inflation, consideration is given, as necessary, to a series of factors, including analysis of the movement of the consumer price index at the different duty stations for goods and services and probable increases in the salaries of General Service staff as a result of the movement of consumer price indices and the outcome of comprehensive salary surveys.

This represents a yearly real rate of return of 4.1 per cent for the same period, after adjustment based on the United States consumer price index, and compares favourably with the 3.5 per cent long term real rate of return assumed in the actuarial calculation.

Price index

After adjustment by the United States consumer price index, the quot real quot rates of return for the two years under review were 5.9 per cent and 18.9 per cent, respectively.

6. As indicated in paragraph 20 of the performance report, the reduced requirements of 11.7 million reflect revised inflation rates and are based on promulgated post adjustment multipliers and the latest available information on consumer price indices.

The price indices, which are established for over 170 countries, measure the cost of living of United Nations international staff stationed at specific duty stations relative to New York and take into account the consumption pattern of United Nations personnel rather than that of the local population.

Government revenues depend on the value of domestic output, not only consumption. Though lower oil prices depress consumer prices, they should boost production and overall GDP.

The granted pension amount is protected against inflation by regular pension indexation (once a year), taking into account the consumer price index changes and as of 2002 also a certain part of the insurance contribution wage index.

One approach centers on prices, with the consumer price index appearing to be the most obvious indicator. The problem is that the relationship between the money supply (which ultimately determines the value of money) and prices is an unstable one.

(b) Scaling forward of post adjustment indices by

261. The price reform (freeing electricity consumption prices and solid and liquid fuel prices) resulted in a drop in electric power consumption, as well as in emissions of sulphuric acid, solid particles and other pollutants of power generation.

On July 10, the National Bureau of Statistics released the June 2016 Consumer Price Index (CPI) and Producer Price Index (PPI).

Thus, until 31 December 2005 state pensions if their amount does not exceed a triple amount of the state social insurance benefit, are indexed taking into account the actual consumer price index as well as 25 of the actual increase in the insurance contribution wages while pensions that exceed a triple amount of the state social insurance benefit but do not exceed the amount that is equal to five times the state social insurance benefit, are indexed by the consumer price index.

(e) To secure reasonable consumer prices of agricultural goods.

Criteria and parameters for price adjustments are sometimes indicated in the law, as in the case of official price indices.

Pension contributions post adjustment indices

The Producer Price Index Manual published by IMF in 2004 acknowledged that it (and the Consumer Price Indices Manual published by ILO in 2004) drew on the contents and conclusions of papers presented at meetings of the Voorburg Group.