natgillin/translations-raw huggingface dataset:
III Ç åîÝëéîç ôçò óõíáëëáãìáôéêÞò éóïôéìßáò Ðßíáêáò 8 ( á ) Óïõçäßá : Óôáèåñüôçôá óõíáëëáãìáôéêÞò éóïôéìßáò ( â ) Âáóéêïß äåßêôåò ðéÝóåùí óôçí êïñþíá Óïõçäßáò ÄéÜãñáììá 6 Êïñþíá Óïõçäßáò : Äéìåñåßò êåíôñéêÝò éóïôéìßåò Ðßíáêáò 9 Êïñþíá Óïõçäßáò : Äåßêôåò ðñáãìáôéêÞò óôáèìéóìÝíçò óõíáëëáãìáôéêÞò éóïôéìßáò Ýíáíôé ôùí Êñáôþí-Ìåëþí ôçò ÅÅ Ðßíáêáò 10 Óïõçäßá : ÅîùôåñéêÝò åîåëßîåéò
III Exchange rate developments Table 8 ( a ) Sweden : Exchange rate stability ( b ) Key indicators of exchange rate pressure for the Swedish krona Chart 6 Swedish krona : Bilateral exchange rates Table 9 Swedish krona : Measures of the real effective exchange rate vis - - vis EU Member States Table 10 Sweden : External developments
ÉV Ç åîÝëéîç ôùí ìáêñïðñüèåóìùí åðéôïêßùí Ðßíáêáò 11 Óïõçäßá : Ìáêñïðñüèåóìá åðéôüêéá ÄéÜãñáììá 7 ( á ) Óïõçäßá : Ìáêñïðñüèåóìá åðéôüêéá ( â ) Óïõçäßá : ÄéáöïñÝò ìáêñïðñüèåóìùí åðéôïêßùí êáé ðëçèùñéóìïý ÄÔÊ Ýíáíôé ôùí ÷ ùñþí ôçò ÅÅ ìå ôá ÷ áìçëüôåñá ìáêñïðñüèåóìá åðéôüêéá
IV Long-term interest rate developments Table 11 Sweden : Long-term interest rates Chart 7 ( a ) Sweden : Long-term interest rate ( b ) Sweden : Long-term interest rate and CPI inflation differentials against EU countries with lowest long-term interest rates
Óïõçäßá : Ðëçèùñéóìüò âÜóåé ôïõ ÅíÄÔÊ ( åôÞóéåò åêáôïóôéáßåò ìåôáâïëÝò ) 1996 Ðëçèùñéóìüò âÜóåé ôïõ ÅíÄÔÊ ÔéìÞ áíáöïñÜò ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ .
Sweden : HICP inflation ( annual percentage changes ) 1996 HICP inflation Reference value Source : European Commission .
ÍïÝ . 97 2,7 -
Nov 97 2.7 -
Äåê . 97 2,7 -
Dec 97 2.7 -
Éáí . 98 2,1 -
Jan 98 Feb 97 - Jan 98 2.1 1.9 2.7
Óïõçäßá : Äåßêôåò ðëçèùñéóìïý êáé óõíáöåßò äåßêôåò ( åôÞóéåò åêáôïóôéáßåò ìåôáâïëÝò , åêôüò åÜí áíáöÝñåôáé äéáöïñåôéêÜ ) 1990 Äåßêôåò ðëçèùñéóìïý Äåßêôçò Ôéìþí ÊáôáíáëùôÞ ( ÄÔÊ ) 10,4 ÄÔÊ ÷ ùñßò ìåôáâïëÝò êáèáñþí Ýììåóùí öüñùí ( â ) 7,5 ÁðïðëçèùñéóôÞò éäéùôéêÞò êáôáíÜëùóçò 9,9 ÁðïðëçèùñéóôÞò ÁÅÐ 8,9 ÔéìÝò ðáñáãùãïý 4,2 Óõíáöåßò äåßêôåò Áýîçóç ðñáãìáôéêïý ÁÅÐ 1,4 Ðáñáãùãéêü êåíü ( åêáôïóôéáßåò ìïíÜäåò ) 3,6 Ðïóïóôü áíåñãßáò (%) 1,7 Êüóôïò åñãáóßáò áíÜ ìïíÜäá ðñïúüíôïò , óýíïëï ïéêïíïìßáò 10,6 Áðïæçìßùóç áíÜ áðáó ÷ ïëïýìåíï , óýíïëï ïéêïíïìßáò 11,3 Ðáñáãùãéêüôçôá åñãáóßáò , óýíïëï ïéêïíïìßáò 0,6 ÁðïðëçèùñéóôÞò ôéìþí åéóáãïìÝíùí 3,0 Áíáôßìçóç íïìßóìáôïò ( ã ) - 1,3 ÐñïóöïñÜ ÷ ñÞìáôïò ìå åõñåßá Ýííïéá ( Åíáñì .
Sweden : Measures of inflation and related indicators ( annual percentage changes unless otherwise stated ) 1990 Measures of inflation Consumer price index ( CPI ) CPI excluding changes in net indirect taxes ( b ) Private consumption deflator GDP deflator Producer prices Related indicators Real GDP growth Output gap ( p.pt s ) Unemployment rate (%) Unit labour costs , whole economy Compensation per employee , whole economy Labour productivity , whole economy Import price deflator Exchange rate appreciation ( c ) Broad monetary aggregate ( M3H ) ( d ) Stock prices House prices 10.4 7.5 9.9 8.9 4.2 1.4 3.6 1.7 10.6 11.3 0.6 3.0 - 1.3 - 7.5 11.8
Ì3 )( ä ) ÔéìÝò ìåôï ÷ þí - 7,5 ÔéìÝò êáôïéêéþí 11,8 1991 9,7 5,7 10,3 7,6 2,4 - 1,1 1,2 3,0 6,4 6,8 0,4 0,0 - 0,5 - 4,8 6,9 1992 2,6 3,4 2,2 1,0 - 0,3 - 1,4 - 1,4 5,3 0,4 4,0 3,5 - 2,2 1,4 - 15,2 - 9,4 1993 4,7 4,0 5,7 2,6 1,1 - 2,2 - 4,7 8,2 1,9 4,4 2,5 14,4 - 19,2 31,0 - 10,1 1994 2,4 2,4 3,0 2,4 4,4 3,3 - 2,8 8,0 0,5 4,8 4,2 3,5 - 1,3 25,7 3,5 1995 2,8 1,9 2,7 3,7 8,2 3,9 - 0,5 7,7 0,0 2,7 2,7 4,8 - 0,2 11,8 0,5 1996 1997 ( á ) 0,8 0,5 1,2 1,1 - 0,2 1,3 - 0,9 8,0 4,6 6,6 1,9 - 4,9 9,8 23,0 - 0,2 0,9 0,3 2,3 1,6 1,1 1,8 - 0,9 8,3 1,2 3,9 2,7 1,4 - 3,7 43,9 6,2
1995 2.8 1.9 2.7 3.7 8.2 3.9 - 0.5 7.7 0.0 2.7 2.7 4.8 - 0.2 11.8 0.5 1996 1997 ( a ) 0.8 0.5 1.2 1.1 - 0.2 1.3 - 0.9 8.0 4.6 6.6 1.9 - 4.9 9.8 23.0 - 0.2 0.9 0.3 2.3 1.6 1.1 1.8 - 0.9 8.3 1.2 3.9 2.7 1.4 - 3.7 43.9 6.2
( â ) ÐñïâëÝøåéò ãéá ôïí ðëçèùñéóìü 1998 ÅõñùðáúêÞ ÅðéôñïðÞ ( Üíïéîç 1998 ) , ÅíÄÔÊ ÏÏÓÁ ( ÄåêÝìâñéïò 1997 ) , áðïðëçèùñéóôÞò éäéùôéêÞò êáôáíÜëùóçò ÄÍÔ ( Ïêôþâñéïò 1997 ) , ÄÔÊ ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ ( ðñïâëÝøåéò Üíïéîçò 1998 ) , ÏÏÓÁ êáé ÄÍÔ .
( b ) Inflation forecasts European Commission ( spring 1998 ) , HICP OECD ( December 1997 ) , private consumption deflator IMF ( October 1997 ) , CPI Source : European Commission ( spring 1998 forecasts ) , OECD and IMF . 1998 1.5 2.2 2.0
Óïõçäßá : ¸ ëëåéììá êáé ÷ ñÝïò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ( ùò ðïóïóôü ôïõ ÁÅÐ ) 1996 Ðëåüíáóìá (+) / Ýëëåéììá (-) åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ÔéìÞ áíáöïñÜò Ðëåüíáóìá (+) / Ýëëåéììá (-) , ÷ ùñßò ôéò äáðÜíåò äçìüóéùí åðåíäýóåùí ( â ) ÁêáèÜñéóôï ÷ ñÝïò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ÔéìÞ áíáöïñÜò - 3,5 - 3 - 1,4 76,7 60 1997 - 0,8 - 3 1,6 76,6 60 1998 ( á ) 0,5 - 3 .
Sweden : General government financial position ( as a percentage of GDP ) General government surplus (+) / deficit (-) Reference value Surplus (+) / deficit (-) , net of public investment expenditure ( b ) General government gross debt Reference value Source : European Commission ( spring 1998 forecasts ) and EMI calculations .
ÄéÜãñáììá 2
74.1 60 Chart 2
Óïõçäßá : ÄéÜñèñùóç áêáèÜñéóôïõ ÷ ñÝïõò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá 1990 Óõíïëéêü ÷ ñÝïò (% ôïõ ÁÅÐ ) ÄéÜñèñùóç êáôÜ íüìéóìá ( á ) (% óõíüëïõ ) Óå åã ÷ þñéï íüìéóìá Óå îÝíá íïìßóìáôá Åóùôåñéêü ÷ ñÝïò ( â ) (% óõíüëïõ ) ÌÝóç äéÜñêåéá ( ã ) ( Ýôç ) ÄéÜñèñùóç êáôÜ äéÜñêåéá (% óõíüëïõ ) ( ä ) 1991 52,8 91,5 8,5 78,2 .
Sweden : General government gross debt str uctural features Total debt ( as a percentage of GDP ) Composition by currency ( a ) (% of total ) In domestic currency In foreign currencies Domestic ownership (% of total ) Average maturity ( b ) ( years ) Composition by maturity ( c ) (% of total ) Short-term ( d ) ( < 1 year) Medium and long-term (≥ 1 year) 1990 43.3 86.1 13.9 80.5 .</p>
Óïõçäßá : ¸ óïäá êáé äáðÜíåò åõñýôåñïõ êõâåñíçôéêïý ôïìÝá ( ùò ðïóïóôü ôïõ ÁÅÐ ) 1990 Óýíïëï ôñå ÷ üíôùí åóüäùí Öüñïé ÅéóöïñÝò êïéíùíéêÞò áóöÜëéóçò ¢ ëëá ôñÝ ÷ ïíôá Ýóïäá Óýíïëï äáðáíþí ÔñÝ ÷ ïõóåò ìåôáâéâÜóåéò ÊáôáâëçèÝíôåò ôüêïé Äçìüóéá êáôáíÜëùóç ÊáèáñÝò êåöáëáéáêÝò äáðÜíåò Ðëåüíáóìá (+) Þ Ýëëåéììá (-) ÐñùôïãåíÝò áðïôÝëåóìá Ðëåüíáóìá (+) Þ Ýëëåéììá (-) , ÷ ùñßò ôéò äáðÜíåò äçìüóéùí åðåíäýóåùí ( á ) .
Sweden : General government budgetary position ( as a percentage of GDP ) Total current receipts Taxes Social security contributions Other current receipts Total expenditure Current transfers Actual interest payments Public consumption Net capital expenditure Surplus (+) or deficit (-) Primary balance Surplus (+) or deficit (-) , net of public investment expenditure ( a )
Óôáèåñü ðñùôïãåíÝò áðïôÝëåóìá ÉóïóêåëéóìÝíïò ðñïûðïëïãéóìüò ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ ( ðñïâëÝøåéò Üíïéîçò 1998 ) êáé õðïëïãéóìïß ÅÍÉ .
Sweden : Potential future debt ratios under alternative assumptions for fiscal balance ratios ( as a percentage of GDP ) Constant overall balance 75 70 65 60 55 1998 1999 2000 2001 Constant primary balance Balanced budget
Óçìåßùóç : Ôá ôñßá óåíÜñéá õðïèÝôïõí üôé ï ëüãïò ôïõ ÷ ñÝïõò èá äéáìïñöùèåß ôï 1998 óýìöùíá ìå ôçí ðñüâëåøç ( 74,1% ) êáé üôé åßôå ôï óõíïëéêü áðïôÝëåóìá ( 0,5% ) Þ ôï ðñùôïãåíÝò áðïôÝëåóìá ( 6,8% ) èá äéáôçñçèåß óôáèåñü óå üëï ôï ðáñáðÜíù äéÜóôçìá , åßôå ï ðñïûðïëïãéóìüò èá åßíáé éóïóêåëéóìÝíïò áðü ôï 1999 êáé åîÞò . ¢ ëëåò ðáñáäï ÷ Ýò åßíáé : áýîçóç ðñáãìáôéêïý ÁÅÐ : 1,9% ôï 1998 üðùò ôï åêôéìÜ ç ÅðéôñïðÞ , ðëçèùñéóìüò : 2 % êáé , óôï óåíÜñéï ôïõ óôáèåñïý ðñùôïãåíïýò áðïôåëÝóìáôïò , ïíïìáóôéêü åðéôüêéï : 6 %.
Source : European Commission ( spring 1998 forecasts ) and EMI calculations . Note : The three scenarios assume that the debt ratio of 74.1% of GDP for 1998 is as forecast and that the 1998 overall balance of 0.5% of GDP or the primary balance of 6.8% of GDP will be kept constant over the period considered ( as a percentage of GDP ) , or , alternatively , that a balanced budget is maintained from 1999 onwards .
Óïõçäßá : Äåßêôçò åîÜñôçóçò çëéêéùìÝíùí : ðñïâëÝøåéò 1990 Äåßêôçò åîÜñôçóçò çëéêéùìÝíùí ( ðëçèõóìüò 65 åôþí êáé Üíù åðß ôïõ óõíüëïõ ôïõ ðëçèõóìïý çëéêßáò 15-64 åôþí ) 27,6 26,9 29,1 35,6 39,4 ÐçãÞ : Bos , E. et al. ( 1994 ) , World population projections 1994-95 , ÄéåèíÞò ÔñÜðåæá , ÏõÜóéãêôïí . 2000
Sweden : Projections of elderly dependency ratio 1990 Elderly dependency ratio ( population aged 65 and over as a proportion of the population aged 15-64 ) 27.6 2000 26.9 2010 29.1 2020 35.6 2030 39.4 Source : Bos , E. et al. ( 1994 ) , World population projections 1994-95 , World Bank , Washington DC .
( á ) Óïõçäßá : Óôáèåñüôçôá óõíáëëáãìáôéêÞò éóïôéìßáò ( 1 Ìáñôßïõ 1996 - 27 Öåâñïõáñßïõ 1998 ) Óõììåôï ÷ Þ óôï Ìç ÷ áíéóìü Óõíáëëáãìáôéêþí Éóïôéìéþí ( ÌÓÉ ) Óõììåôï ÷ Þ áðü Õðïôßìçóç äéìåñïýò êåíôñéêÞò éóïôéìßáò ìå ðñùôïâïõëßá ôçò ÷ þñáò ÌÝãéóôåò ðñïò ôá Üíù (+) êáé ðñïò ôá êÜôù (-) áðïêëßóåéò áðü ôéò ìÝóåò äéìåñåßò éóïôéìßåò (%) Ìáñôßïõ 1996 Ýíáíôé ( á ) Íïìßóìáôá ÌÓÉ : ÖñÜãêïõ Âåëãßïõ Êïñþíáò Äáíßáò ÌÜñêïõ Ãåñìáíßáò ÐåóÝôáò Éóðáíßáò ÖñÜãêïõ Ãáëëßáò Ëßñáò Éñëáíäßáò Ëßñáò Éôáëßáò Öéïñéíßïõ Ïëëáíäßáò Óåëéíßïõ Áõóôñßáò Åóêïýäïõ Ðïñôïãáëßáò ÌÜñêïõ Öéëáíäßáò Íïìßóìáôá åêôüò ÌÓÉ Äñá ÷ ìÞò ÅëëÜäïò Ëßñáò Áããëßáò ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ êáé õðïëïãéóìïß ÅÍÉ .
( a ) Sweden : Exchange rate stability ( 1 March 1996 - 27 February 1998 ) Membership of the Exchange Rate Mechanism ( ERM ) Membership since Devaluation of bilateral central rate on country 's own initiative Maximum upward (+) and downward (-) deviations from March 1996 average bilateral rates (%) against ( a ) ERM currencies : Belgian franc Danish krone Deutsche Mark Spanish peseta French franc Irish pound Italian lira Dutch guilder Austrian schilling Portuguese escudo Finnish markka Non-ERM currencies : Greek drachma Pound sterling Source : European Commission and EMI calculations .
( â ) Âáóéêïß äåßêôåò ðéÝóåùí óôç êïñþíá Óïõçäßáò ÌÝóïò üñïò 3 ìçíþí Ýùò : Ìåôáâëçôüôçôá óõíáëëáã / êÞò éóïôéìßáò ( á ) ÄéáöïñÝò âñá ÷ õðñüèåóìùí åðéôïêßùí ( â ) ÌÜé . 96 Áýã .
( b ) Key indicators of exchange rate pressure for the Swedish krona Average of 3 months ending : Exchange rate volatility ( a ) Short-term interest rate differentials ( b ) May 96 Aug 96 Nov 96 Feb 97 May 97 Aug 97 Nov 97 Feb 98 6.9 3.0 6.4 2.0 4.3 1.3 6.2 0.6 7.7 0.8 6.6 0.8 6.9 0.7 4.2 0.8
98 6,9 3,0 6,4 2,0 4,3 1,3 6,2 0,6 7,7 0,8 6,6 0,8 6,9 0,7 4,2 0,8 ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ , åèíéêÜ óôïé ÷ åßá êáé õðïëïãéóìïß ÅÍÉ .
Source : European Commission , national data and EMI calculations .
ÄéÜãñáììá 6
Chart 6 Swedish krona : Bilateral exchange rates ( daily data ;
Êïñþíá Óïõçäßáò : Äéìåñåßò êåíôñéêÝò éóïôéìßåò ( çìåñÞóéá óôïé ÷ åßá , ìÝóïò üñïò Ìáñôßïõ 1996 = 100 , 1.3.96 - 27.2.98 ) SEK / BEF SEK / DKK SEK / DEM SEK / GRD SEK / ESP SEK / FRF SEK / IEP
average of March 1996 = 100 ; 1 March 1996 to 27 February 1998 ) SEK / BEF 120 110 100 90 80 70 Q2 1996 SEK / ITL Q3 Q4 Q1 Q2 1997 Q3 Q4 Q1 SEK / DKK SEK / DEM SEK / GRD SEK / ESP SEK / FRF
SEK / ITL
SEK / IEP 120 110 100 90 80 70 Q2
Êïñþíá Óïõçäßáò : Äåßêôåò ðñáãìáôéêÞò óôáèìéóìÝíçò óõíáëëáãìáôéêÞò éóïôéìßáò Ýíáíôé ôùí Êñáôþí-Ìåëþí ôçò ÅÅ ÌÝóïò üñïò ÐñáãìáôéêÝò óôáèìéóìÝíåò óõíáëëáãìáôéêÝò éóïôéìßåò : ÂÜóåé ôïõ ÄÔÊ ÂÜóåé ôïõ Äåßêôç Ôéìþí Ðáñáãùãïý /× ïíäñéêÞò Õðüìíçóç : ÏíïìáóôéêÞ óôáèìéóìÝíç óõíáëëáãìáôéêÞ éóïôéìßá - 22,8 - 8,4 - 13,1 - 5,2 - 8,5 - 2,7 ÌÝóïò üñïò
February 1998 compared with different benchmark periods ) Average Apr 73-Feb 98 Real effective exchange rates : CPI-based PPI / WPI-based Memo item : Nominal effective exchange rate Source : BIS and EMI calculations .
( ìçíéáßá óôïé ÷ åßá , åêáôïóôéáßåò áðïêëßóåéò , ÖåâñïõÜñéïò 1998 óå óýãêñéóç ìå äéáöïñåôéêÝò ðåñéüäïõò âÜóçò ) ÌÝóïò üñïò 1987 - 7,5 - 2,8 - 15,8 Áðñ .
Note : A positive ( negative ) sign indicates an appreciation ( depreciation ) . Average Jan 87-Feb 98 - 8.5 - 2.7 - 8.4
73 - Öåâ . 98 Éáí .
Average 1987 - 7.5 - 2.8 - 15.8
Ðßíáêáò 10 Óïõçäßá : ÅîùôåñéêÝò åîåëßîåéò ( ùò ðïóïóôü ôïõ ÁÅÐ ) 1990 Éóïæýãéï ôñå ÷ ïõóþí óõíáëëáãþí óõí êßíçóç êåöáëáßùí ( â ) ÊáèáñÞ èåôéêÞ (+) Þ áñíçôéêÞ (-) åîùô .
Current account plus new capital account Net foreign assets (+) or liabilities (-) ( c ) Exports ( goods and services ) ( d ) Imports ( goods and services ) ( e ) ( b )
èÝóç ( ã ) ÅîáãùãÝò ( áãáèÜ êáé õðçñåóßåò )( ä ) ÅéóáãùãÝò ( áãáèÜ êáé õðçñåóßåò )( å ) - 37,0 29,9 29,5 - 25,8 29,6 28,4 - 37,4 30,7 29,1 - 46,3 33,8 29,1 - 46,0 37,2 31,8 - 37,2 40,5 33,8 - 43,1 - 47,1 42,4 34,6 47,0 37,9 - 2,9 1991 - 2,0 1992 - 3,4 1993 - 2,0 1994 0,3 1995 2,2 1996 1997 ( á ) 2,3 2,7
1995 2.2 - 37.2 40.5 33.8 1996 1997 ( a ) 2.3 2.7 - 43.1 - 47.1 42.4 47.0 34.6 37.9
( ä ) ÅíäïêïéíïôéêÝò åîáãùãÝò åðß ôïõ óõíüëïõ ôùí åèíéêþí åîáãùãþí áãáèþí , 1996 : 55,0% , Direction of Trade Statistics Yearbook 1997 , ÄÍÔ .
( d ) In 1996 the share of intra-EU exports of goods in total national exports of goods was 55.0% ; Direction of Trade Statistics Yearbook 1997 , IMF .
( å ) ÅíäïêïéíïôéêÝò åéóáãùãÝò åðß ôïõ óõíüëïõ ôùí åèíéêþí åéóáãùãþí áãáèþí , 1996 : 66,4% .
( e ) In 1996 the share of intra-EU imports of goods in total national imports of goods was 66.4% ;
Óïõçäßá : Ìáêñïðñüèåóìá åðéôüêéá ( åðß ôïéò åêáôü ) 1996 Ìáêñïðñüèåóìï åðéôüêéï ÔéìÞ áíáöïñÜò ÐçãÞ : ÅõñùðáúêÞ ÅðéôñïðÞ .
Sweden : Long-term interest rates ( percentages ) 1996 Long-term interest rate Reference value Source : European Commission .
ÍïÝ . 97 6,3 -
Nov 97 6.3 -
Äåê . 97 6,0 -
Dec 97 6.0 -
Éáí . 98 5,7 -
Jan 98 Feb 97 - Jan 98 5.7 6.5 7.8
ÇÍÙÌÅÍÏ ÂÁÓÉËÅÉÏ13 Ç åîÝëéîç ôùí ôéìþí Óôç äéÜñêåéá ôçò ðåñéüäïõ áíáöïñÜò ( ÖåâñïõÜñéïò 1997-ÉáíïõÜñéïò 1998 ) ï ìÝóïò ñõèìüò ðëçèùñéóìïý âÜóåé ôïõ ÅíÄÔÊ óôï ÇíùìÝíï Âáóßëåéï Þôáí 1,8% , äçëáäÞ áñêåôÜ ÷ áìçëüôåñïò áðü ôçí ôéìÞ áíáöïñÜò 2,7% .
UNITED KINGDOM13 Price developments Over the reference period from February 1997 to January 1998 the average rate of HICP inflation in the United Kingdom was 1.8% , i.e. well below the reference value of 2.7% .
Ôï 1996 , ï ìÝóïò ðëçèùñéóìüò âÜóåé ôïõ ÅíÄÔÊ Þôáí 2,5% ( âë . Ðßíáêá 1 ) .
In 1996 average HICP inflation was 2.5% ( see Table 1 ) .
Áðü ôçí åîÝôáóç ôùí ìÝ ÷ ñé óÞìåñá åîåëßîåùí ðñïêýðôåé üôé ï ðëçèùñéóìüò ôéìþí êáôáíáëùôÞ óôo ÇíùìÝíï Âáóßëåéï , üðùò ìåôñÜôáé âÜóåé ôïõ äåßêôç ôéìþí ëéáíéêÞò åêôüò ôüêùí óôåãáóôéêþí äáíåßùí ( RPIX ) , áêïëïýèçóå ìéá ãåíéêþò êáèïäéêÞ ðïñåßá óôéò áñ ÷ Ýò ôçò äåêáåôßáò ôïõ 1990 ( âë . ÄéÜãñáììá 1 ) .
Looking back , consumer price inflation in the United Kingdom , as measured on the basis of the retail price index excluding mortgage interest payments ( RPIX ) , followed a broad downward trend during the early 1990s ( see Chart 1 ) .
Ï ðëçèùñéóìüò Þôáí 8,1% ôï 1990 êáé õðï ÷ þñçóå óôï 2,3% ôï 1994 , åíþ óôç óõíÝ ÷ åéá áõîÞèçêå åê íÝïõ êáé äéáìïñöþèçêå óå 3 % Þ åëáöñþò ÷ áìçëüôåñá ôï 1995-97 .
Inflation stood at 8.1% in 1990 and fell to 2.3% in 1994 , before edging up to stand at or just under 3 % in 1995-97 .
ÁõôÞ ç áðïêëéìÜêùóç ôïõ ðëçèùñéóìïý áíôáíáêëÜ ìéá óåéñÜ óçìáíôéêþí åðéëïãþí ðïëéôéêÞò , óôéò ïðïßåò óõìðåñéëáìâÜíïíôáé áöåíüò ï íÝïò ðñïóáíáôïëéóìüò ôçò íïìéóìáôéêÞò ðïëéôéêÞò ìåôÜ ôï öèéíüðùñï ôïõ 1992 ðñïò ôçí åðßôåõîç åíüò óáöïýò óôü ÷ ïõ ãéá ôïí ðëçèùñéóìü , ðïõ óÞìåñá Ý ÷ åé êáèïñéóôåß áðü ôçí êõâÝñíçóç óôï 2,5% ôïõ RPIX êáé , áöåôÝñïõ , ðéï ðñüóöáôá , ç êáèéÝñùóç ôçò ëåéôïõñãéêÞò áíåîáñôçóßáò ôçò ÔñÜðåæáò ôçò Áããëßáò .
This experience of disinflation reflects a number of important policy choices , including the shift in monetary policy after the autumn of 1992 towards the pursuit of an explicit inflation target , which is currently specified by the Government to be an objective of 2.5% for the RPIX and , more recently , the granting of operational independence to the Bank of England .
Åðßóçò , óôéò áñ ÷ Ýò ôçò äåêáåôßáò ôïõ 284 1990 , ôï ìáêñïïéêïíïìéêü ðåñéâÜëëïí óõíÝâáëå óôç óõãêñÜôçóç ôùí áíïäéêþí ðéÝóåùí óôéò ôéìÝò .
In addition , in the early 1990s the macroeconomic environment contributed to containing upward pressure on prices .
Áîßæåé íá óçìåéùèåß üôé , óôï ðëáßóéï ôçò ýöåóçò ôïõ 1991-92 , ðñïÝêõøå óçìáíôéêü áñíçôéêü ðáñáãùãéêü êåíü ( âë . Ðßíáêá 2 ) .
Notably , in the context of the recession in 1991-92 a considerable negative output gap emerged ( see Table 2 ) .
Êáèþò ïé óõíèÞêåò óôçí áãïñÜ åñãáóßáò Ýãéíáí ðéï ðéåóôéêÝò , ç áýîçóç ôùí ìéóèþí õðÞñîå ìÝôñéá , åíþ ç áýîçóç ôïõ êüóôïõò åñãáóßáò áíÜ ìïíÜäá ðñïúüíôïò ðáñÝìåéíå ãýñù óôï 2 % ôçí ðåñßïäï 1996-97 .
As the labour market has tightened , earnings growth has risen modestly , with unit labour cost growth remaining at around 2 % in 1996-97 .
ÐáñÜëëçëá , ãåíéêÞ ôÜóç ðñïò ÷ áìçëïýò ñõèìïýò ðëçèùñéóìïý ðñïêýðôåé êáé áðü Üëëïõò äåßêôåò ôéìþí , áí êáé ïé ôéìÝò êáôáíáëùôÞ ôï 1997 , ìåôñïýìåíåò âÜóåé ôïõ RPIX , ðáñÝìåéíáí õøçëüôåñåò áðü ôï óôü ÷ ï êáé ðïëý õøçëüôåñåò áðü ü , ôé ìå âÜóç Üëëïõò äåßêôåò ôïõ ðëçèùñéóìïý , åíþ ôïí ÉáíïõÜñéï 1998 ìåéþèçêáí ðëçóéÜæïíôáò ôï óôü ÷ ï 14 ( âë . Ðßíáêá 2 ) .
A general tendency towards low rates of inflation is also apparent when it is measured in terms of other price indices , although in 1997 consumer prices measured on the basis of the RPIX remained above the target value and well above other measures of inflation before declining to the target value in January 199814 ( see Table 2 ) .
Ç ¸ êèåóç ãéá ôç Óýãêëéóç äåí ëáìâÜíåé õðüøç ôá ìÝôñá ôïõ Ðñïûðïëïãéóìïý ôá ïðïßá Ýëáâå ôï ÇíùìÝíï Âáóßëåéï ëßãï ðñéí áðü ôçí çìåñïìçíßá äçìïóßåõóçò . Ï ðëçèùñéóìüò , üðùò ìåôñÜôáé âÜóåé ôïõ RPIX , åßíáé õøçëüôåñïò áðü ü , ôé âÜóåé ôïõ ÅíÄÔÊ .
Looking at recent trends and forecasts , current outturns for consumer price inflation ( measured as a percentage change over the corresponding month a year earlier ) have been decreasing slightly to 2‰ % but there are some signs of immediate upward pressure on the basis of the measures shown in Table 3a15 .
Ç äéáöïñÜ åßíáé êáôÜ ìåãÜëï ìÝñïò êáèáñÜ áëãåâñéêÞ : ï RPIX êáôáóêåõÜæåôáé ùò áñéèìçôéêüò ìÝóïò , åíþ ï ÅíÄÔÊ ùò ãåùìåôñéêüò ìÝóïò .
Forecasts of inflation suggest a rate of around 2-2‰ % for 1998 and 1999 ( see Table 3b ) .
¼ óïí áöïñÜ ôéò ðñüóöáôåò ôÜóåéò êáé ðñïâëÝøåéò , ôá ôåëåõôáßá äéáèÝóéìá óôïé ÷ åßá ãéá ôïí ðëçèùñéóìü ( ìå âÜóç ôï äùäåêÜìçíï ñõèìü ôïõ äåßêôç ôéìþí êáôáíáëùôÞ ) åìöáíßæïõí åëáöñÜ ìåßùóç ôïõ ñõèìïý óôï 2,5% áëëÜ õðÜñ ÷ ïõí ïñéóìÝíåò åíäåßîåéò üôé èá åêäçëùèïýí Üìåóåò áíïäéêÝò ðéÝóåéò , üðùò ðñïêýðôåé áðü ôïõò äåßêôåò ôïõ Ðßíáêá 3á . 15 Ïé ðñïâëÝøåéò ãéá ôïí ðëçèùñéóìü õðïäçëþíïõí ñõèìü ðåñß ôï 2-2 , 5 % ãéá ôï 1998 êáé ôï 1999 ( âë .
Risks for price stability over this period are associated with strong money and credit growth as well as pressures in the labour market . Looking further ahead , although the United Kingdom does not intend to participate in the single monetary policy as from 1999 , there will be a need to pursue economic policies which do not overburden monetary policy and which are conducive to exchange rate stability .
Ðßíáêá 3â ) . Ïé êßíäõíïé ãéá ôç óôáèåñüôçôá ôùí ôéìþí óôï åí ëüãù äéÜóôçìá óõíäÝïíôáé ìå ôçí éó ÷ õñÞ íïìéóìáôéêÞ êáé ðéóôùôéêÞ åðÝêôáóç êáèþò êáé ìå ôéò ðéÝóåéò óôçí áãïñÜ åñãáóßáò .
The Convergence Report does not take into account the UK Budget measures which were introduced shortly before the release date . Inflation as measured on the basis of the RPIX is higher than when measured on the basis of the HICP .
¼ óïí áöïñÜ ôéò åîåëßîåéò óå Ýíáí åõñýôåñï ÷ ñïíéêü ïñßæïíôá , áí êáé ôï ÇíùìÝíï Âáóßëåéï äåí ðñïôßèåôáé íá óõììåôÜó ÷ åé óôçí åíéáßá íïìéóìáôéêÞ ðïëéôéêÞ áðü ôï 1999 , èá õðÜñîåé áíÜãêç íá áóêçèïýí ïéêïíïìéêÝò ðïëéôéêÝò ðïõ äåí èá åðéâáñýíïõí õðåñâïëéêÜ ôç íïìéóìáôéêÞ ðïëéôéêÞ êáé èá óõìâÜëëïõí óôç óôáèåñüôçôá ôçò óõíáëëáãìáôéêÞò éóïôéìßáò .
These measures may be vulnerable to distortions owing to residual seasonality in the data . domestic inflation in the United Kingdom also needs to continue to be supported by the conduct of appropriate fiscal policies and the maintenance of national policies aimed at enhancing competition in product markets and improving the functioning of labour markets .
Ôï 1998 , ï ëüãïò ôïõ åëëåßììáôïò ðñïâëÝðåôáé íá ìåéùèåß óôï 0,6% ôïõ ÁÅÐ êáé ï ëüãïò ôïõ ÷ ñÝïõò óôï 52,3% .
In 1998 the deficit ratio is forecast to decrease to 0.6% of GDP , while the debt ratio is projected to decline to 52.3% .
Ôï 1996 êáé ôï 1997 ï ëüãïò ôïõ åëëåßììáôïò õðåñÝâç ôï ëüãï ôùí äáðáíþí äçìüóéùí åðåíäýóåùí ðñïò ôï ÁÅÐ ( âë . Ðßíáêá 4 ) .
In 1996 and 1997 the deficit ratio exceeded the ratio of public investment expenditure to GDP ( see Table 4 ) .
Áðü ôçí åîÝôáóç ôçò ðåñéüäïõ 1991-1997 ðáñáôçñåßôáé üôé ï ëüãïò ÷ ñÝïõò / ÁÅÐ óôï ÇíùìÝíï Âáóßëåéï áõîÞèçêå êáôÜ 17,8 åêáôïóôéáßåò ìïíÜäåò .
Looking back over the years 1991 to 1997 , the United Kingdom s debt-to-GDP ratio increased by 17.8 percentage points .
Îåêéíþíôáò áðü 35,6% ôï 1991 , ï ëüãïò áõîáíüôáí äéáñêþò , Ýöèáóå óôï 54,7% ôï 1996 êáé ìåéþèçêå óå 53,4% ôï 1997 ( âë . ÄéÜãñáììá 2á ) .
Starting from 35.6% in 1991 , the ratio rose continuously to reach 54.7% in 1996 , before declining to 53.4% in 1997 ( see Chart 2a ) .
¼ ðùò åìöáíßæåôáé ëåðôïìåñÝóôåñá óôï ÄéÜãñáììá 2â , êáôÜ ôçí åðéóêïðïýìåíç ðåñßïäï ç áýîçóç ôïõ ÷ ñÝïõò áêïëïõèïýóå êõñßùò ôá êáôÜ êáéñïýò õøçëÜ ðñùôïãåíÞ åëëåßììáôá , åíþ áóêÞèçêáí êáé ïñéóìÝíåò áíïäéêÝò ðéÝóåéò ëüãù ôïõ óõíäõáóìïý ôçò áýîçóçò ôïõ ÁÅÐ êáé ôùí åðéôïêßùí .
As is shown in greater detail in Chart 2b , during the period considered debt growth was mainly driven by at times sizable primary deficits , while some upward pressure resulted from the combination of GDP growth and interest rates .
Ìüíï ôï 1997 åðáíåìöáíßóôçêå ðñùôïãåíÝò ðëåüíáóìá , ðïõ åß ÷ å ùò áðïôÝëåóìá ôç ìåßùóç ôïõ åëëåßììáôïò .
Only in 1997 did a restored primary surplus have a debt-decreasing effect .
Ç  ðñïóáñìïãÞ ôùí ìåôáâëçôþí ñïÞò êáé ôùí ìåôáâëçôþí áðïèÝìáôïò  óõíÝâáëå óôç óõãêñÜôçóç ôçò áýîçóçò ôïõ ëüãïõ ôïõ ÷ ñÝïõò ôï 1994 êáé ôï 1996 .
Stock-flow adjustments played a role in checking the rise in the debt ratio in 1994 and 1996 .
Óôï ðëáßóéï áõôü , óçìåéþíåôáé üôé ôï ôìÞìá ôïõ ÷ ñÝïõò ìå ìéêñÞ åíáðïìÝíïõóá äéÜñêåéá ìåéþíåôáé áðü ôéò áñ ÷ Ýò ôçò äåêáåôßáò ôïõ 1990 , åíþ ç ìÝóç äéÜñêåéá Ý ÷ åé ðáñáìåßíåé áìåôÜâëçôç êáé åßíáé ç ìåãáëýôåñç óôçí ´ Åíùóç ( âë . Ðßíáêá 5 ) .
In this context , it may be noted that the share of debt with a short-term residual maturity has been decreasing since the early 1990s , while the average maturity has remained stable and is the highest in the Union ( see Table 5 ) .
Ùò ðñïò ôï 1997 , ôï ôìÞìá ôïõ ÷ ñÝïõò ìå ìéêñÞ åíáðïìÝíïõóá äéÜñêåéá åîáêïëïõèåß íá öáßíåôáé ó ÷ åôéêÜ ÄçìïóéïíïìéêÝò åîåëßîåéò Óôç äéÜñêåéá ôçò ðåñéüäïõ áíáöïñÜò 1997 ï ëüãïò ôïõ åëëåßììáôïò Þôáí 1,9% , äçë .
With regard to 1997 , the proportion of debt with a short-term residual maturity is still indicated to be relatively high but current statistical applications do distort the qualitative picture ( see footnote to Table 5 ) .
Óôç äéÜñêåéá ôçò äåêáåôßáò ôïõ 1990 ðáñáôçñåßôáé üôé ï ëüãïò åëëåßììáôïò / ÁÅÐ áêïëïýèçóå áñ ÷ éêÜ ðïñåßá ñáãäáßáò åðéäåßíùóçò êáé êáôüðéí âåëôéùíüôáí .
During the 1990s a pattern of rapid deterioration and subsequently improving outturns can be observed in the deficit-toGDP ratio .
Îåêéíþíôáò áðü 0,9% ôï 1990 , ïé äçìïóéïíïìéêÝò áíéóïññïðßåò Ýöèáóáí óôï 7,9% ôï 1993 .
Starting from a ratio of 0.9% in 1990 , fiscal imbalances reached 7.9% in 1993 ;
¸ êôïôå , ôï Ýëëåéììá ìåéùíüôáí êÜèå ÷ ñüíï ãéá íá äéáìïñöùèåß óôï 1,9% ôïõ ÁÅÐ ôï 1997 ( âë . ÄéÜãñáììá 3á ) .
since then , the deficit has declined year by year to stand at 1.9% of GDP in 1997 ( see Chart 3a ) .
¼ ðùò áðåéêïíßæåôáé ëåðôïìåñÝóôåñá óôï ÄéÜãñáììá 3â , ôï ïðïßï åðéêåíôñþíåôáé óôéò ìåôáâïëÝò ôùí åëëåéììÜôùí , êõêëéêïß ðáñÜãïíôåò óõíÝâáëáí óçìáíôéêÜ óôçí áýîçóç ôïõ åëëåßììáôïò Ýùò ôï 1993 , êáèþò êáé óôç ìåôáãåíÝóôåñç ìåßùóÞ ôïõ .
As is shown in greater detail in Chart 3b , which focuses on changes in deficits , cyclical factors contributed substantially to an increase in the deficit until 1993 , as well as to its reduction thereafter .
Ôá äéáèÝóéìá óôïé ÷ åßá õðïäçëþíïõí üôé ìÝôñá ìå ðñïóùñéíÞ åðßäñáóç ìåßùóáí ôï ëüãï ôïõ åëëåßììáôïò êáôÜ 0,5% ôïõ ÁÅÐ ôï 1997 .
Evidence available suggests that measures with a temporary effect reduced the deficit ratio by 0.5% of GDP in 1997 .
Áõôü óçìáßíåé üôé ôá áíôéóôáèìéóôéêÜ ìÝôñá ðïõ Ý ÷ ïõí Þäç óõìðåñéëçöèåß óôá ó ÷ Ýäéá ôïõ ðñïûðïëïãéóìïý ãéá ôï 1998 èá ÷ ñåéáóôåß íá áíôéóôáèìßóïõí ôçí áíÜðôõîç áõôþí ôùí áðïôåëåóìÜôùí ðñïêåéìÝíïõ íá äéáôçñçèåß ï ðñïûðïëïãéóìüò óôçí ðñïãñáììáôéóìÝíç ðïñåßá ôïõ .
This implies that compensating measures already included in budget plans for 1998 will need to offset the unwinding of these effects in order to maintain the budget on its planned path .