Hold on prices urged

Press, 12 May 1984, Page 3

Hold on prices urged

PA Wellington Small traders have been asked by the Minister of Trade and Industry, Mr Templeton, to exercise price restraint “in the period ahead.” Commenting on the 1.3 per cent rise in the all foods group of the consumer price index last month, Mr Templeton said yesterday that it appeared smaller traders had “taken the opportunity to recover costs with the expiry of the price freeze.” Mr Templeton also said

that most food price rises in April were “exceptional in nature.” Opposition party claims that the rise in food prices was equivalent to an annual rate of 15 per cent were misleading, he said. Take-aways and meals away from home contributed more than 50 per cent of the rise, Mr Templeton said. “Yet most people eat at home, and it is apparent that in most food areas only minimal increases occurred. “The other main in-

creases were in items such as fresh fruit and vegetables, which were affected, by seasonal factors, or items such as fish, that were affected by high overseas demand.” Mr Templeton said some increase in the all foods group of the index had been expected, with the lifting of the price freeze. “I would particularly like to congratulate those traders who have shown responsibility in applying only minimal price increases,” he said.