COST OF LIVING

Greymouth Evening Star, 10 December 1928, Page 11

COST OF LIVING

A FURTHER INCREASE The retail price index (Dominion weighted average) for the three food groups as at October 15, was 1589 (on the base average prices in the four centres during the years 1909-13 equals 1000), an increase of 18 points at compared with that for the previous month, and of 48.5 per cent, over that for July 1914 (states the Government Statistician’s monthly abstract of statistics, for November). Increases in the prices of potatoes and onions have been the principal cause of the 60 points increase in the index number for the groceries group. Reductions in eggs, bacon, and butter in most towns have caused the dairyproduce index number to fall 28 points. Meat in the smaller towns still shows an upward movement, while in the larger centres a downward tendency is noticeable, and the combined elfect has resulted in a fall of 7 points in the- index number for this group. Expenditure on food constitutes somewhat less than two-fifths of the expenditure of an average household. In order to present a more complete picture of movements in retail prices generally, statistics regarding the retail prices of clothing, drapery and footwear, and miscellaneous items of family expenditure are collected at quarterly intervals, and when combined with the indexes for food, rent, fuel, and light, approximately 87 per cent, of the average household expenditure is represented. Index numbers were compiled for

rent, clothing, and miscellaneous items of family expenditure as at August 15. When combined with the October index numbers for food and fuel and light, the resultant all groups index is 62.1 per cent, above the July, 1914, level, so that it now takes £l/12/5 on the average to purchase what could be purchased for £1 in that month.