COST OF LIVING.

New Zealand Herald, Volume LXVIII, Issue 20842, 8 April 1931, Page 5

COST OF LIVING.

LOWER PRICES IN BRITAIN. SOME AT PRE-WAR LEVEL. [FROM OL'R OWN CORRESPONDENT.] LONDON", March G. Presiding at the annual meeting of shareholders -of Harrods, Limited, Sir Woodman Burbidge spoke of the extent of recent falls in prices, lie said:—"ln the case of our grocery and provision departments, during last year, the prices show an all-round decrease of approximately 20 per cent. In the last few months wo have been selling some articles of food at pre-war prices. In the case of piece-goods and general drapery prices were down from 15 to 20 per cent. The same reduction applies in the carpets and soft furnishing departments. Indeed, in quite an astonishing number of articles the prices to-day are down to pre-war levels. "The question has frequently been asked, 'Have we now touched the bottom in prices V I venture the opinion that, generally speaking, prices of raw materials are not likely to go lower. There may be a few isolated cases, but [ think the general trend will bo in an upward direction. We have surely come to the end of selling under cost'of production. Therefore, I do not think the general public will be in a more advantageous position for buying than they aro to-day. Frankly, I do not see much hope of any great revival in trad* taking place until wo can be assured that no further burdens of taxation are to be. placed upon the trades and industries of the country." For the fourth successive year, it was stated, the directors proposed paying a 20 per cent, dividend. The company was in an exceptionally strong financial position, due to the conservative policy of the directors in building up substantial reserves.