PRICES IN BRITAIN.

New Zealand Herald, Volume LXI, Issue 18722, 30 May 1924, Page 5

PRICES IN BRITAIN.

RISING TENDENCY CHECKED. After a rise during practically seven successive months, the - Statist's index num- : beta of _ wholesale prices ;of ; commodities in the United Kingdom show a decline during March of 1.8 per cent." The end of March index number 137, is still, however, well above the average for last year—l 29 (based on average weekly prices); it compares with 124.8 at the end of last July, the low point of the depression, and with 266.1 at the end' of March; 1920, the peak point of the boom." . y., i The 1 reaction in the index number is rather, a.; disquieting feature, says the Statist, : particularly as it seems to corroborate' the . tendency shown by the March decline in imports of raw materials and exports" of . manufactured articled as well as in ibankers' acceptances. It should be noted, f" however, :, that the materials index number, which may be taken as a. more accurate in- ■ dicator of business conditions, remains unchanged. In the vegetable food , group all the commodities declined during March. In the • animal food section declines were rei corded"!by mutton and Danish butter; but beef, pork, , and Water ford bacon improved in value. As regards groceries, sugar and .tea declined, but coffeo rose again fractionally. -"-Metals showed weakness generally, declines being recorded by pig iron, copper, tin and lead. Raw cotton, in the textiles group,-; again went to lowjeir prices; but quotations for flax, hemp, ; jute and raw wool showed a further advance. In the sundry materials group, hides, paim oil, linseed and indigo yjent to lower , levels, while the averago import prices of leather and sawn timber showed an increase.* '