PRICE FIGURES P.M. and Mr Lewin differ

Press, Volume CXII, Issue 33064, 3 November 1972, Page 2

PRICE FIGURES P.M. and Mr Lewin differ

GVeic Zealand Press Association) WELLINGTON, November 2.

The Prime Minister (Mr Marshall) tonight questioned whether the Government Statistician (Mr J. P. Lewin) should become involved in a political issue.

“The political issue is whether the Govern-

ment’s firm stabilisation policies introduced in March this year are working to restrain prices better in New Zealand than in several other comparable countries,” Mr Marshal] said.

“The figures used by the■ Government Statistician do; not clarify this issue because ■ they cover a period before and after March, 1972, and are incomplete up to September.” They were therefore not! relevant to the argument, I said Mr Marshall. “The effect of the Govern- i ment’s policy only began to i show up in the consumers' price index in June, and the I fuller effect was more notice- i able in the September quar-i ter.” Mr Marshall gave a table which, he said, included the figures for Britain which Mr Lewin omitted. The figures, he said, were: JUNE QUARTER Price i-crease . per cent New Zealand .. .. 2.3 Australia .. .. 2.3 Canada .. .. 2.9 Britain .. .. 3.6 United States 1.7 SEPTEMBER QUARTER Price increase per cent New Zealand .. .. 1.1 Australia .. .. 1.4 . Canada .. .. 2.0 Britain .. .. 1.7 United States .. 1.0 “It is clear from these figures,” Mr Marshall said, “that the National Government’s stabilisation policies are working well and that New Zealand is now better controlling inflation than Australia, Canada and Britain." “CONFUSION” Mr Lewin today released a, table of retail price percentage increases for New Zealand, Australia, the United! States and Canada. “In the light of some confusion which has arisen out of a televised discussion of comparative consumer price movements in a number of countries, I think it desirable that I, as Government Statistician, set out definitely the comparative price ' movements of the several countries stated, and I am taking] this opportunity to do so,” I Mr Lewin said. There was confusion about what had been the comparative rate of increase in the prices of consumer goods and services — in most countries retail prices — during part of this year, said Mr Lewin The position was put in best perspective, he said, by comparing the movement in the consumer price indexes, or what served for them, of the countries in question, for various terms.

The figures he gave had been checked back to official sources in their countries of origin, said Mr Lewin.

These percentage move-

ments were given by Mr Lewin as follows.—

RETAIL PRICE INDEX PERCENTAGE INCREASES N.Z. Aust. U.S. Can.

Dec 71 to: June, ’72 .. Dec.. *71 to: 3.1 2.0 1.5 1.5 Sept., ’ll . Dec.. 71 to: 4.2 3.4 — — July. 72 . June. 71 to: — — 1.9 2.9 June. 72 .. Sept.. 71 to: Sept.. 72 .. 7.4 6.1 2.9 4.1 6.5 5.8 — ——