Price index up 4.4 p.c.

Press, Volume CXVI, Issue 34129, 15 April 1976, Page 3

Price index up 4.4 p.c.

Retail prices, as measured by the consumers’ price index, rose 4.4 per cent in the March quarter this year. In the December quarter of last y ear the increase was 4.1 per cent.

The March figure — released yesterday by the Government Statistician (Mr E. A. Harris) —is 1225, which represents an increase of 22.5 per cent on the base figure of 100(1 in the December quarter of 1971. Retail prices have now risen 17.2 per cent in the year (since the March quarter of 1975. This is the highest an[nual increase recorded in’ (New Zealand, the previous highest having been 15.7 per cent in the year to December. 1975. In the early 1960 s the conisumers’ price index rose at 'an annual rate of about 3 per cent, but between 1965 [and 1969 it rose at an annual [rate of about 5 ner cent. Successive annual increases [since then have been: Year

Increase in each of the six groups of prices which comprise the index in the March quarter were as follows: % inc. [ All foods 4.3 Housing 1.3 Household i operation 5.3 Apparel 1.8 Transport 9.5 Miscel. 5.6 I. '! AH groups . . 4.4 [ Items contributing signifi- . cantly to the increase of 51 ;( points (A 4 per cent) in the index were: milk. 3.0 points: meals and takeaways. 1.5 points; private rentals, 1.0.' point; postal charges, 2.5(1 points; electrical household appliances, 1.1 points; furni- 1 ture and other household equipment. 2.8 points; bus; and rail fares, 1.1 points; new -

cars, 1.2 points; used cars. 2.1 points; petrol. 9.4 points: tobacco and alcohol 2.1 points; leisure and recretational supplies, 1.5 points: newspapers, magazines, and books, 3.0 points; and recreational and educational services, 1.5 points.

ended % p a. Dec., 1970 . . .. .. 6.5 1 Dec., 1971 .. .. .. 9.1 Dec., 1972 .. . . . . 5.5 Dec., 1973 . . .. .. 10.0 Dec., 1974 . . .. .12.6 Dec., 1975 . . . . . . 15.7 Mar.. 1976 . . . . . 17.2