In January 1999, the spot exchange rate for the euro was 0.90 . In July 2000, the rate was 1.08. In January 1999,the euro wide CPI was 105.3 and the U.S. CPI was 108.0. In July 2000, the euro-wide CPI was 108.8 and the U.S. CPI was 113.3.

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