COST OF LIVING

New Zealand Times, Volume XLIX, Issue 11252, 3 July 1922, Page 6

COST OF LIVING

RETAIL FOOD PRICES ANOTHER INCREASE FOR MAY OF 12 POINTS. MEAT, BUTTER, AND MILK UP. It is officially notified that the index number for the three food groups as at May loth is 1552, an increase of 12 points as compared with the preceding month’s figure (1540), and an increase of 45.05 per cent, over July, 1914. The decrease of 7 points in the groceries group is due mainly to a still further fall in the price of potatoes in most towns. In some cases a slight fall in the prices of rice and sago has also been recorded. The increase of 35 points recorded in the dairy products group is caused by a rise in the prices of butter and milk in some towns and of egg 9 in most towns. The price of eggs has risen very considerably in the past two months—due no doubt to the shortage of supplies usually experienced during the winter months. The increase of 24 points in the index number for the meat group is caused by an increase in the prices of mutton and pork in several towns. An accompanying diagram shows the course of retail food prices from July, 1914, to date, and is of interest not only as indicating the monthly movement within each year, but as showing clearly the comparison of the movement between one year and another.

The diagram strikingly illustrates tho Btoady rate of increase during tjie war, the comparatively small increase in 1919, and the huge rise in 1920, followed by an even greater fall in 1921, and the gradual recovery since March of the present year. WHAT THE CHART SAYS. (From July, 1914 (zero), the retail prices gradually rose 10 per cent, at the end of 1914, 15 per cent. December, 1915; 25 per cent. December, 1916; 30 per gent, in October, 1917; 40. per cent, in July, 1918; then rqse steadily to 50 per cent, in December, 1918. In 1919 it rose to 55 per cent., while in 1920 the prices soared from 55 per cent, increase to 60 per cent, in February, to 65 in June, 70 in August, and close on 80 in December. Then retail prices began to decline, and 1921 showed a drop from nearly 80 to 70 in March, 65 in June, 60 in September, 55 in the middle of October, and 50 in December. • In 1922, the prices gradually dropped until March, when they stood at 42 per ceq£. increase. Since that time they have gradually risen, and, as stated, at this month prices showed an increase of 45 per cent, over the prices ruling in July, 1914.

IN OTHER COUNTRIES. The late it available figures for the principal countries publishing statistics of retail prices of food are as shown in tho following table, tho comparisons being between July, 1914, and increase per cent. South Africa, February, 1922, 19. United States, March, 1922, 36. Canada, March, 1922, 42. Australia, April, 1922, 43. New Zealand, May, 1922, 45. Holland (Amsterdam), March, 1922, 4S. India (Bombay), April, 1922, 57. United Kingdom, May, 1922, 72. Sweden, March, 1922, 85. Denmark, January, 1922. 97. Norway, MaTch, 1922. 138. France (Paris), March. 1922, 191. Belgium, February, 1922, 299 Italy (Home), February, 1922, 363. Finland. January, 1922. 1023. Germany, March, 1922, 3052.