PRICE MOVEMENTS

Dominion, Volume 27, Issue 162, 6 April 1934, Page 13

PRICE MOVEMENTS

Advance in Export Values SHARP RISE IN WOOL Cost of Living Changes Price index numbers in most countries show a definite upward movement sis compared with levels at- this time hist year, ;in<l index numbers of prices in New Zealand have responded to this general upward trend, reports the Government Statistician. The export-prices index, which is the most sensitive of the New Zealand series in reacting to external influences, was 26 per cent, higher last month than in February, 193.”.. The wholesale-prices general index was 2 per cent, higher than in the previous February, a slight tall in the index for imported items (which, however. rose sharply between .January and February last year) being more than counteracted by an increase in the index number of prices of locally produced items. The retail prices—all groups—index number, which is slower than other indexes to move upward or downward, was in February 1 per cent, higher than in the same month of 1933. The outstanding feature of the prices statistics for the month of February is the sharp rise in the export-price index number for wool, which is now 1441 (on the base: average prices ruling during 1909-13 — 1000), an increase of 31.1 per cent, on export prices of this commodity in 1914. Despite recessions in the index numbers for dairy products and meat the “all groups” export-prices index rose from 1103 in January to 1109 in February. The index number for the meat group, which rose sharply between October apt! November, is still—despite the fall between January and February—the highest individual index number of the pastoral group. The wholesale prices index number continued its gradual upward movement, the February index number 1339 (on the base: 1909-13 — 1000) being 3 points higher than the January figure. Retail prices statistics relating to February 15 show that the index number of food prices lias advanced slightly since January—mainly owing to an increase in retail prices of meat. Statistics as to house rents, clothing, drapery, and footwear prices, anil of prices of miscellaneous items of household expenditure were collected in February, the ali-groups index showing an increase of 4 points or 0.5 per cent, since the previous compilation (in November last). The February index number of house rents, which is compiled only twice a year (in February and August), was 3 points or 0.4 per cent, lower than the August, 1933, index. The decrease in this index between the last two collections is considerably less than has been recorded at successive collections for three years previously.