Drop in consumer prices predicted
NZPACanberra The Auf.—lian Minister of Primary Industry (Mr Peter Nirnn) has said that the present Australian drought will mean higher prices for meat, eggs, milk, and ma..y other products. There was no doubt that the drought was a disaster for farmers and the economy. he said. The wheat crop was looking “sicker by the day” and livestock losses were enormous.
Mr Nixon said his first concern was to see that enough money flowed through the hanking sys-
tern to enrure that farmers got sufficient credit to survive until better times. There was no way of estimating how much' Lapact the drought would have on store prices for basic food stuffs — but higher grain costs would mean wide-ranging pricerises.
He said the impact of the rises could not be cushioned — the consumer would have to bear it along with the farmer. On? thing was certain — the drought would bring home to the man in the street that when Australia’s rural sector suffered. the nation suffered.
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Press, 24 October 1980, Page 18
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169Drop in consumer prices predicted Press, 24 October 1980, Page 18
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