Retail prices up sharply

Press, 13 July 1979, Page 2

Retail prices up sharply

PA Wellington Retail prices rose 4.5 per cent in the June quarter of 1979, the secondbiggest increase since March, 1972, according to figures given by the Government Statistician (Mr E. A. Harris) yesterday. In the year ended June 30, 1979, retail prices rose 12.4 per cent. The 4.5 per cent increase in the June quarter followed increases of 2.3 per cent in the March quarter, 2.6 in the December quarter, and 2.5 in the September quarter. The 12.4 per cent increase in the year ended June 30 compared with a 10.4 per cent rise in the year ended March 31, a 10.1 per cent rise in the year ended December 31, 1978, and an 11.1 per cent rise in the year ended September 30, 1978. Since March, 1972, the highest price rise in a quarter was the 4.8 per cent increase in the June quarter of 1977. In the June quarter, 1978, the increase was the same as for this June quarter, 4.5 per cent.

In the year ended June 30, 1979, meat, fish, and poultry prices rose 34.6 per cent, public transport, 15.6 per cent; fuel and light, 14.6 per cent; pri-

vate transport, 14.2 per cent; household ..furnishings, 13.3 per cent; footwear, 13.2 per cent; clothing, 9.8 per cent; fruit and vegetables, 9.6 per cent; and tobacco and alcohol, 9.2 per cent. In the all-foods group of the consumers’ price index, meat prices rose 38.8 per cent in the year to June 30; dairy products, 30.4 per cent; processed vegetables, 17.2 per cent; takeaways, 16.1 per cent; meals away from home. 14.9 per cent; soft ’rinks, fruit juices, and ices, 14.7 per cent; cereals and cereal products, 12.4 per cent; and fish, 10.9 per cent.

Mr Harris said that overall, the main individual items contributing to the 4.5 per cent June quarter increase this year were beef and veal cuts, hogget and lamb cuts, beef mince, milk, butter, bread, dwelling rentals, purchase of previously occupied homes, cost of erection of dwellings, contractors’ charges for household maintenance and repair, electricity tariffs, colour television sets, lounge suites, women’s blouses, new and used cars, petrol, car insurance, alcohol, concert admissions, and labour union dues.