MANUFACTURERS’ PRICES

Press, Volume LXXXIIi, Issue 25302, 30 September 1947, Page 6

MANUFACTURERS’ PRICES

EFFECT OF HIGHER WAGES TRIBUNAL CONSIDERING INCREASES “The Press” Special Service WELLINGTON, September 29. Price increases are to be allowed by the Price Tribunal to manufacturers where necessary to offset the cost of wage increases which will operate from October 1. There are indications that the tribunal may ask wholesale and retail distributive trades to absorb some of the increased costs and that mark-ups may be reduced on certain goods. The completion of price adjustments to coincide with the operation of the? wage increase is impossible. The tribunal has undertaken to determine on a percentage basis any increases fnv mnniifar+nrintf inriiistrioa within 1 d

The completion of price adjustments to coincide with the operation of the? wage increase is impossible. The tribunal has undertaken to determine on a percentage basis any increases for manufacturing industries within 14 days of the receipt of evidence of the effect of the wage pronouncement on each industry. Because of the inevitable delay in the receipt of amended awards from the Court, manufacturers have not been able yet to supply the necessary information covering all trades. The increased production cost which will occur in manufacturing industries with the application of the wage increase will vary according to the labour content involved. It has been estimated that the increase may vary from 1 per cent, to 8 or 9 per cent.