ROCKETING PRICES

Otago Daily Times, Issue 26693, 12 February 1948, Page 7

ROCKETING PRICES

FRENCH GOVERNMENT ACTS FRANC PLAN IN JEOPARDY N.Z.P.A.—Copyright Rec. 10 p.m. PARIS, Feb. 11. In a desperate attempt to curb rocketing prices which threaten its stability, the Government to-day introduced a series of new decrees. Food and* other commodity prices have risen by as much as 70 per cent, since the franc was devalued a fortnight ago and the “ save the franc ” programme is in jeopardy. The new decrees provide: First, the compulsory publication by the press and radio each week of the lawful wholesale and retail prices; secondly, the resumption of the “ doube tag ” system under which retaiers must post the wholesale price alongside their selling figure; thirdly, a large-scale import of vegetabes and wine to be sold at prices lower than the French wholesalers are now asking; fourthly, the setting up of a netfrork of “ sample shops " where fair prices will be asked and guaranteed. The Government will buy 33.000,000 gallons of Italian wine to force down the price of French wine, the retail price of which has risen one-third in the past fortnight. Because of their high cost most restaurants have ceased to serve vegetables with meals. The Minister of Agriculture has ordered the freezing of wholesale meat prices at rates existing in the last week in January. The Independent newspaper. Combat, argues that it is inconsistent to restore freedom in money trading then reinforce control in other sectors. All the newspapers agree, however, that only a halt in the rising prices can save the Government.