Price Index
Sir, —Since the best-known indication of retail levels of consumer goods is believed to be the consumers’ price index, the recently-reported increase of 4.5 per cent in goods and services in respect of 12 months to the last quarter of 1964 appears to illustrate that the pattern of inflation attributable to steadily increasing prices has continued to advance by an average of approximately 4 per cent per annum over a period of some 28 years. Although moneys deposited in savings banks at 3 per cent interest appear to be voded by approximately 1 per cent, the opportunity does obtain within the savings bank field and fringe financial institutions for receipt of higher rates of interest. Incidentally, it seems obvious that people who are looking forward to enjoying their retirement may require considerable savings with which to amplify any form of pension they might become entitled to receive.—Yours, ANALYSIS. May 3, 1965.
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Bibliographic details
Press, Volume CIV, Issue 30741, 4 May 1965, Page 16
Word Count
153Price Index Press, Volume CIV, Issue 30741, 4 May 1965, Page 16
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