DOMINION PRICES

New Zealand Times, Volume LIII, Issue 12623, 7 December 1926, Page 4

DOMINION PRICES

THE VARIOUS FOOD GROUPS 32S 4D TO PURCHASE XI WORTH OF j GOODS. The retail - price index (Dominion weighted average) for the three food groups as at October 15tli was 1563 (on base: average prices in four chief centres during the years 1969-13 equal 1000), a decrease of 14 pointß since the previous month. This index number shows an inoroaso of 46.6 per cent, over that for July, , 1914. The recent increase in the price of sugar has accounted for the 9-point rise in the index number for the groceries group. In the majority of towns the summer prices of milk are. in operation, with similar reductions in the price of butter, although eggs ehow n tendency to increase in price as the Christmas season approaches the net result being that the index number for dairy-produce has fnllcn 47 points Mutton has been somewhat reduced in price, beef nlso but to a lesser extent, and this lias resulted in a decrease of 2() points in tho index number of meat prices. A. comparison with indexes for October, 1925. shows the following differences: -- Groceries. 2 points increase, mostly due to alterations in sugar prices; dairy-produce, a, decrease of 96 points, again due to earlier seasonal reMiictio.ns in the price of milk; meat, a I. 2-points decrease. Meat had reached almost its peak prices lost October; this year it is showing a general nnrl continued reduction. Tho index number for the combined food groups showed a reduction of 87 points .during the twelve months. Expenditure on food constitutes somewhat less than two-fifths of the expenditriro of the average household. It is n*e*» oessary. therefore, to take into account other groups of household expenditure in estimating price-movements. Statistics regarding house-rents, retail prices of elolhing and drapery, footwear, furnishings, household irnnrnorj'ory, and other miscellaneous items of family expenditure have therefore been collected as at August 15th. and, combined with the index for fuel and light* for October, in their proper proportions, the resultant “nil groups” price index showing n level of 62.3 per cent, over that for July. 1914. It now takes 32s 4<l, on the average, to purohnse what 20s would purchase in that month. *Tlio October, 19*26, price index for fuel and light on lmq«: average of years 1999-13 was 1855, a decrease of 1 point over the corresponding figure for tho previous month.