Price rises begin soon

Press, Volume CXVI, Issue 34046, 9 January 1976, Page 10

Price rises begin soon

CV Z Pres* Association

WELLINGTON. Jan. 8. A one-cent rise in the price of a standard loaf of bread on Monday will mark the beginning of a series of increases announced by the Prime Minister (Mr Muldoon): before Christmas.

On February 1, the pnce of a pint of milk will double to Bc. and rail charges will rise dramatically, fares on trains, ferries, and buses going up by between 32 and 64 per cent. On February 2. most postal charges will double, and the cost of toll calls and telegrams will also rise steeply.

The next increases in charges will not become effective until April 1, when power charges will rise 60 to 65 per cent, and the cost of renting a telephone will also rise.

A Statistics Department spokesman today said that the rises would affect mainly the consumer price indices

for the first and second quarters of the year. Mr Muldoon has said he expects the impact to be minimal. The latest consumer price index is expected to be released about the middle of next week. The spokesman said the index for the fourth quarter of 1975 was now complete, and the final computer calculations were being done. The index might be out on Wednesday. The index will be coupled with the third quarter index to form the basis of calculations for the six monthly cost-of-living General Wage Order and adjustments expected to be announced late in January.