RETAIL PRICES
LOWER IN AUGUST
REDUCED PURCHASING POWER BANK’S INNOVATION (United Press Assn.—By Telegraph—Copyright.) (Rec. 7 p.m.) London, September 25. The Bank of England announces an important innovation for co-operating with the Incorporated Association of Retail Distributors in order to secure reliable information in regard to the state of trade and the cost of living. A hundred departmental stores scattered over 60 towns have agreed to furnish the bank with monthly returns of retail prices compared with the corresponding month of the previous year together with the stock held. The next stage will be the calculation of the retail trade index by the bank.
The first joint report by the bank and the-association shows that prices were lower in August and trade was less. There were signs of reduced purchasing power by the public,, especially by the leisured classes.
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Southland Times, Issue 21198, 26 September 1930, Page 7
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139RETAIL PRICES Southland Times, Issue 21198, 26 September 1930, Page 7
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