Lower Prices This Year?
(Roc. 1.15 p.m.' NEW YORK. Mar. 7 The Bureau of Agricultural Economics • said today that forces now in operation indicate a business recession late in 1947. bringing lower prices, particularly in foods.
The bureau predicted that food prices, which in recent weeks climbed to record heights, may decline by 15 to 20 per cent by the end of the year, and farm prices may drop 20 to 25 per cent. The bureau explained that the main factor bringing recession is the declining purchasing power in the hands of wage-earners, li added that a steady rise in the cost of living meant that the real income of wageearners had been declining since VJ Day.
Apparently sales of goods had been held at record levels by the spending of wartime savings and by instalment credit.
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Northern Advocate, 8 March 1947, Page 5
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137Lower Prices This Year? Northern Advocate, 8 March 1947, Page 5
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