The quantity theory states that the general price level will rise proportionately to the increase in the money supply.

There was always a problem in this approach, namely that the general price level is an abstraction.

There was always a problem in this approach, namely that the general price level is an abstraction. It is a useful in a context of overall stability but, especially during crises or in the aftermath of large shocks, there are sharp movements of relative prices.

But this fear is unfounded, because it is based on a misunderstanding. What matters for debt service capacity is the debtors' income, not the general price level.

The period of wage moderation may be coming to an end, warns Otmar Issing, the ECB s chief economist, implying that soaring energy prices may now be feeding through into the overall price level (so called second round effects ).

With the exception of Myanmar, inflation tended to be lower in 2004 in all of these countries owing to greater exchange rate stability as well as to prudent monetary policies, although the rise in oil prices was beginning to affect the general price level.

In fact, inflation has spiked during the past year, conveniently facilitating a necessary correction in the real price of houses.)

(g) Unrelated price benchmarking.

It is a useful in a context of overall stability but, especially during crises or in the aftermath of large shocks, there are sharp movements of relative prices.

Closure of the High level Plenary Meeting

Four quotations were received by the Registry, as follows

A 40 fall in the value of the dollar of which half passes through to increased dollar prices of imports thus implies a 3.2 rise in the overall price level.

Asymmetry of this magnitude requires a significant adjustment of relative prices.

Addresses on the occasion of the High level Plenary Meeting

Statements by the two Co Chairpersons of the High level Plenary Meeting

Addresses on the occasion of the High level Plenary Meeting (continued)

Addresses on the occasion of the High level Plenary Meeting (continued)

Addresses on the occasion of the High level Plenary Meeting (continued)

High level Plenary Meeting of the General Assembly (1st meeting)

High level Plenary Meeting of the General Assembly (2nd meeting)

High level Plenary Meeting of the General Assembly (3rd meeting)

High level Plenary Meeting of the General Assembly (4th meeting)

Preparation for and organization of the High level Plenary Meeting of the General Assembly

For the processing of price surveys, the African Development Bank is using its own software called SEMPER.

Georgia, the Republic of Moldova and Turkmenistan started price surveys in March 2005.

That was our obligation at this High level Plenary Meeting.

c. Meetings of the High Level Committee on Management (2 sessions per year)

P. Focal points for arrangements related to the High level Plenary Meeting

8th plenary meeting High level Plenary Meeting of the General Assembly

Closure of the High level Plenary Meeting of the General Assembly of September 2005

C. High level Plenary Meeting of the sixtieth session of the General Assembly

The Standard ampamp Poor s price earnings ratio recently stood at around 20, well above the long term average of around 16 since 1881.

Convinced that the High level Plenary Meeting will constitute a significant event,

Such cooperation is highly essential for the success of this High level Plenary Meeting.

Our High level Plenary Meeting is indeed of the utmost importance.

Language Web sites of the High level Plenary Meeting of the General Assembly

The High level Plenary Meeting observed a minute of silent prayer or meditation.

But there is a risk that the state can get important prices seriously wrong.

Within the framework of the High level Plenary Meeting, the Assembly will hold a separate meeting on financing for development on 14 September 2005, immediately following the adjournment of the opening plenary meeting of the High level Plenary Meeting.

d. Meetings of the High Level Committee on Programmes (2 sessions per year) intersessional meetings (2 sessions per year)

(b) Average prices must reflect purchases across all types of outlets to provide representative national prices

Arrangements for the High level Plenary Meeting of the General Assembly of September 2005

The meetings of the High level Plenary Meeting will be held according to the following schedule

In the lead up to the High level Plenary Meeting, the following documents will be issued

High level Plenary Meeting of the General Assembly separate meeting on Financing for Development