INCREASE IN PRICES

Press, Volume LXXXIII, Issue 25299, 26 September 1947, Page 6

INCREASE IN PRICES

Meat, Sugar, And Tea

WITHDRAWAL OF SUBSIDIES

From Our Own Reporter WELLINGTON, September 25. Retail prices for meat, sugar, and tea will be increased on Monday as a result off the removal of subsidies on the first two commodities and the reduction of the tea subsidy by half. The meat price increases range from lid a pound for the cheaper cuts to 3d a pound for choicer grades. The adult ration -n the South Island will be increased to 2s 2d and the children’s ration to Is 2d. The increase in the tea price will be Is lid a pound, and in the sugar price 2|d a pound. Old and new prices a pound are as follows: —

Sugar .. ~ 4d 6id New price orders authorising these increases were issued by the Price Tribunal to-day. Meat Ration The present quantities of the weekly meat ration will be maintained by a corresponding increase in coupon values. Details of this were given by the Food and Rationing Controller (Mr A. J. Costelloe), who said that next week the adult ration would be 2s Id in the North Island, with H coupons worth lOd and ordinary coupons 3d each. In the South Island the adult ration will be 2s 2d, with H coupons worth lid and ordinary coupons 3d each. The total child’s ration will be Is id in the North Island, and is 2d in the South Island, J coupons being worth 7d in the North Island and 8d in the South Island. Details of how the new procedure affects butchers will be given to them by local meat supply and rationing officers. Refund of Subsidies The Minister of Industries and Commerce (Mr A, H. Nordmeyer) said today that traders would be required to take stock of sugar and tea before the commencing of business on Monday morning, and, according to regulations which had been gazetted, would have to refund the subsidy on their unsold stocks held at midnight on Sunday.

Mr Costelloe said a circular letter was being sent by him to retailers explaining the procedure required of them under the regulations. “Traders are to repay the subsidy on unsold stocks into the public account through the Reserve Bank or any branch of the Bank of New Zealand. On sugar the amounts to be repaid will be calculated at £22 8s Id a ton, at 16s a bag, and, on the remaining fractions, Is for five poundp. On tea the amount to be repaid will be calculated at the flat rate of Is a pound. A bank receipt for the amount of subsidy repaid should be attached to returns to be made to the rationing officer for both tea and sugar for the period ending on Sunday. “Wholesale merchants and packers are also required to refund Is a pound on tea stocks to the Food Controller by way of the public account, and a bank receipt forwarded with their usual four-weekly returns.”

PRICES OF OTHER COMMODITIES

INCREASES EXPECTED From Our Own Repiorter

WELLINGTON, September 25. • The increases announced in the consumer prices of tea, sugar, and meat are probably only the start of an upward trend in the cost of everyday commodities. It is expected that next week the price of bacon will rise, and that this will be closely followed by an increase in the cost of ham. Cheese is likely to go up in ppce within the next few weeks. Since the Minister of Finance (Mr W Nash) announced early last month the revision of State subsidies, a Government member of Parliament (Mr C. Carr, Timaru) has predicted increases in the prices of many consumer goods. Mr Carr said that there would have to be an approximate retail price increase of 4d a dozen for eggs, to cancel out the floor subsidy, and a further 3d a dozen to compensate for taking off the wheat and flour subsidy. It is likely that bacon and ham will increase in price by 2?d to 3d a pound, and that the price of cheese will go up by at least 3d a pound. ' Increased prices are also forecast for cigarettes and tobacco.

Tea— Old. New. Main brands .. 4s to 5s lid to 4s 4d 5s Bid Bulk .. 3s 9d 4s 10id