CONSUMER PRICE INDEX

Press, Volume XC, Issue 27501, 8 November 1954, Page 12

CONSUMER PRICE INDEX

FOOD GROUPS FALL ELEVEN POINTS

LOWEST LEVEL SINCE MARCH Between September and October food prices fell by 11 points to reach their lowest level since ■ March, according to the latest index of consumers’ prices released by the Census and Statistics Department. This was the combined effect of an increase of 12 points in the meat and fish subindex, a decline of 56 points in the fruits, vegetables, and eggs sub-index, and a decline of two points in the “other foods” sub-index.

An alternative analysis indicates that practically the whole decrease of Il points in the food group index may be attributed to the seasonal section of the fruits, vegetables and eggs subgroup, an upward contribution to this index of nearly three points from meat and fish being balanced by downward movements originating in nonseasonal fruits and vegetables and in “other foods.” The October fuel and lighting index showed no change from September. The following table compares the monthly index numbers of retail prices, the base for the first quarter of 1949 being 1000.

The index numbers for fuel and lighting in these months were 1485 (August), 1486 (September), and 1486 (October). At the base period (first quarter of 1949) food represented 34.22 per cent and fuel and lighting 3.86 per cent, of the total expenditure covered by the consumers’ price index. These are the only groups for which prices are collected each month, the complete allgroups index being a quarterly compilation. The following table shows food index numbers of towns and groupings of towns for both September and October in each of the years 1953 and 1954:

Meat, Fish. Fruits, etc. Other Foods. All Food. August 1899 1539 1517 1613 . 1931 1468 1511 1602 October 1943 1412 1509 1591

1953 1953 1954 1954 Auckland S ® Oct. 1645 Sept. 1575 Oct. 1562 Wellington Christchurch 1632 1676 1631 1632 1575 1598 1613 1592 1572T Dunedin 1480 1511 1581 ■I i i , i ' Four chief centres 1557 1628 1598 1588 - - Hamilton 1659 1713 1642 1639 Napier 1651 1655 1554 1547; New Plymouth 1577 1650 1569 1556 Palmerston North 1598 1685 1639 1624 Nelson 1546 1645 1583 1572 Invercargill 1512 1537 1638 1621 Six provincial — — — — towns 1598 1651 1605 1595 —. i — - Whangarei .. 1614 1689 1650 1638 Tauranga .. 1666 1719 1647 1646 Rotorua 1665 1719 1652 1654 Gisborne .. 1660 1671 1567 1610 1561 Wanganui 1565 1666 1594 Masterton 1660 1701 1624 1610 Blenheim ,. 1521 1632 1584 1572 Greymouth .. 1523 1643 1632 1616 Ashburton 1507 1634 1608 1594 Timaru 1462 1576 1580 1564 Oamaru 1474 1498 1589 1587 ■ i i ■ 11 other towns 1574 1653 1613 1602 Twenty-one towns — — — — combined 1567 1636 1602 1591