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But he did acknowledge that higher oil import costs have reduced the country's gross domestic product by about 0.75 percent this year.
At that point, import costs soar in sterling terms and we end up with hyperinflation.
There is still a huge trade deficit and rising inflation due to import costs rising.
It also has one of the very best wine lists on the island, reasonably priced considering the usual high import costs.
Part of the upward pressure on prices has been caused by sterling's weakness, which has led to higher import costs.
What has to be imported costs, and the Confed doesn't see wasting a lot of stads on us."
A further consideration: we have agreements on minimum import costs, for instance with Israel; otherwise duties are levied.
Japan's trade surplus rose in January from a year ago as low oil prices continued to keep down import costs, the Finance Ministry reported today.
A strong dollar also reduces the risk that rising import costs will accelerate inflation, which causes fixed-income securities to lose value.
If we lose growth momentum then debt costs us more but how with imported costs and deficit cuts can we not do into recession?
Retailers have blamed the weaker pound for pushing up food import costs, and deny allegations that they are "ripping off" the public.
However these cars often command stronger premiums over UK market cars, partly due to import costs.
The Gamble family started lime and alkali pits, fulfilling the need of the glass industry and saving on import costs.
Indeed, if monetary relaxation succeeds in stabilising output, it should unlock sharp productivity gains which could finance higher import costs.
The main danger now is that the gain in competitiveness will be eroded by inflation partly triggered by the rise in import costs.
When they do, he predicts "higher import costs, a cutback in spending on cheap foreign goods, rising inflation, perhaps chaotic financial markets, a lower standard of living."
It was an attempt by the Spanish to make paella in the New World, where saffron was not readily available due to import costs.
Such outcomes could be troublesome as export profits could be negated entirely or import costs could rise substantially.
It is a way to reduce importing costs and save money by participating in special Customs procedures and simplifies processes to run more efficient inventory control systems.
Gabonese manufacturing is highly dependent on foreign inputs, and import costs rose significantly in 1994 when the CFA franc was devalued.
Games Workshop printed some original material and also printed their own versions of various D&D and AD&D titles in order to avoid high import costs.
The restraint on prices from lower import costs shows up in several ways: Products like television sets and cars that are made abroad cost less because the American dollar buys more.
Currently that aid equals about $4 billion annually - 8 percent of Israel's G.N.P. and almost the entire gap between Israel's export earnings and import costs.
Around 2,000 vehicles were produced before the company (Rodacar AD) ceased production in April 1996 due to high import costs of the components and little demand for the cars.
A clever new exchange rate policy balances the objectives of keeping Israeli exports competitive in world markets and of trying to hold the line on inflation driven by rising import costs.