Price Rises Higher In Last Two Years
(New Zealand Press Association)
WELLINGTON, June 11. Prices had increased by a higher percentage in the last two years than in previous years, the Minister of Industries and Commerce (Mr Marshall) told Parliament today. But the higher increase was caused by the removal of some subsidies and devaluation.
Mr R. M. Barclay (Lab., New Plymouth) had asked the Minister why the allgroups section of the consumers’ price index had risen by 13.5 per cent between December 31, 1966, and March 31, 1969. Mr Marshall said devaluation and subsidy removal directly contributed 6.2 per cent to the increase.
The average annual increase since 1960 had been 3.3 per cent, compared with 4.2 per cent in the preceding post-war years. The increase
was in line with that experienced overseas. The rises in salaries and wages during the period referred to by Mr Barclay had more than matched the price increases, Mr Marshall said.
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Bibliographic details
Press, Volume CIX, Issue 32012, 12 June 1969, Page 1
Word Count
158Price Rises Higher In Last Two Years Press, Volume CIX, Issue 32012, 12 June 1969, Page 1
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