If we use the rise in labor costs as the DE facto inflation index - instead of the CPI - to compute the real effective exchange rate, the yuan has appreciated 50 percent already since 2005.

代替消费者价格指数，如果我们使用劳动力成本的涨幅作为实际通胀指数，来计算实际有效汇率，那么自2005年起人民币已经升值了50%。

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If we use the rise in labor costs as the DE facto inflation index - instead of the CPI - to compute the real effective exchange rate, the yuan has appreciated 50 percent already since 2005.

代替消费者价格指数，如果我们使用劳动力成本的涨幅作为实际通胀指数，来计算实际有效汇率，那么自2005年起人民币已经升值了50%。

youdao