For each year in the reference period, the difference between the determined costs expressed in nominal terms prior to the reference period and the determined costs adjusted on the basis of the difference between the actual inflation recorded by the Commission in the Eurostat Harmonised Index of Consumer Price as published in April of year n and the inflation assumption as specified in the performance plan for the year preceding the reference period and for each year of the reference period, shall be carried over in year n+2 for the calculation of the unit rate.

This should promote nominal wages and labour cost developments consistent with price stability and the trend in productivity over the medium term.

nominal wage increases are consistent with price stability and productivity gains.

Nominal prices had been frozen for the third season in succession and price reductions had been agreed for the poorer qualities.

The EU price index for cars (reflecting nominal prices paid by consumers, including rebates, VAT and registration taxes) increased by only 0.3%, against a 2.8% rise in overall consumer prices, translating into a remarkable fall in real car prices by 2.5%.

Senator Bolduc: You have given us nominal prices, as opposed to real prices.