Rise in index
PA- Wellington The food group index of the consumers price index for May is 1035 (on base: December quarter, 1977-1000) compared with 1022 for April, 1978, says the Government Statistician. This 13-point increase amounts to a 1.3 per cent increase in the average level of food prices between April and May. Food prices in May were 11.7 per cent higher than in May, 1977. The Minister of Trade and Industry (Mr AdamsSchneider) said yesterday that the May figure for the consumers price index allfoods group was “exactly what I predicted last month.” He said the 11.7 per cent rise for the May year was the first annual rate to be below 12 per cent for more than two years. The rise of 1.3 per cent for May over the April figure was caused by a number of unique factors such as the increase in the price of milk, and the impact of the rise in the price of sugar, he said.
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Press, 9 June 1978, Page 4
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164Rise in index Press, 9 June 1978, Page 4
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