PRICE MOVEMENTS

Otago Daily Times, Issue 21998, 6 July 1933, Page 14

PRICE MOVEMENTS

COST-OF-LIVING FIGURES

SLIGHT INCREASES NOTED,

Slight advances during May in the retail prices of food, clothing, drapery, and footwear are reported by the Government Statistician. The Dominion index number of retail prices covering all groups of household expenditure was. on May 15, 798 (on the base: average of prices ruling during 1920-30 = 1000), an increase of 27.1 per cent, over July, 1914, retail prices. Retail prices of food have increased slightly, on the average, since April, the index number for the three food groups combined having risen /by 13 points, or 1.8 per cent., since that month. The index numbers for the individual food groups show the following movements: Groceries, 11 points increase; dairy products, 35 points increase; and meat, 3 points decrease. Retail prices of potatoes and eggs were dearer on May 15 than on the corresponding day in April; while, in some towns,' butter prices had also risen (slightly. Statistics of prices of clothing, drapery, and footwear items and of miscellaneous commodities and services were collected on May 15. Clothing, drapery, and footwear prices have increased, on the average, by 2.9 per cent, since the previous collection of these prices (in February), while prices in the miscellaneous group have advanced by 1.3 per cent, during the same period. The index number of fuel and lighting prices has decreased by 5.9 per cent, singe April, and by 0.8 per cent, since February, a fall in prices of household coal being recorded in two of the major centres, while firewood prices have also fallen during recent months. The “all groups” retail prices index number shows a slight increase—of 1 point or 0.1 per cent. —since February last. As statistics of house rents are collected in February and August only, the February rent index has been used in compiling the May “ all groups ” index. The export price index number for May is 808 (on the base: average prices ruling during 1909-13 equals 1000), a decrease of 25.8 per cent, as compared with 1014 export prices, and of 24 points since April. Although the dairy produce index has risen slightly (by 9 points) since April, it is evident that the increases in prices realised for New Zealand produce sold on the London market during the past few weeks have been too recent to have affected the declared valuations of produce exported during May. Wholesale prices have i)iscu slightly during May. the all groups index number having increased by 8 points since April. Locally produced commodities have risen by 18 points, owing mainly to seasonal variations in prices of certain agricultural products, while imported Hems included in the index have fallen slightly in price since April. The upward tendency in market prices of ordinary shares continues, the official index based on quotations at the end of May being 22 points, or 2.8 per cent., higher than the April index, (he Mav index represents an increase of 19.4 per cent, above the lowest level (recorded in April, 1932), but is still, however, 21.5 per cent, below the average index for the year 102 C.