EXPORT PRICES

Southland Times, Issue 22214, 5 January 1934, Page 2

EXPORT PRICES

STEADY IMPROVEMENT.

The index number of export 'prices for .the month of November was 1021 (on’the base average prices ruling during 1909-13 = 1000), an increase of 2.1 per cent, as compared with the October figure, and a decrease of 6.2 per cent, when compared with the average of export prices ruling during 1914. During each of the last six months an increase over the previous month’s figure has been recorded, so that there is justification for assuming that a definite advance from the low-price levels of the past two years is in progress. Moreover, the substantial recovery in prizes realized at the opening wool sales of the 1933-34 season is as yet too recent to have been reflected in the export price index numbers, since shipment of the new season’s wool will not commence until December. The index number of retail prices covering all groups of household expenditure was, on November 15, 800 (on the base average prices ruling during 1926-30=1000). This figure represents an increase of 27.4 per cent, on the 1914 level of retail prices. The usual three-monthly collection of prices of clothing, drapery, footwear, and miscellaneous items was made in November, the November index for the clothing group being exactly the same as the August figure, while a slight increase of three points, or 0.2 per cent., was recorded in the case of the miscellaneous group. The index number for the three food groups combined was, in November, two points higher than the October figure, decreases in the index number for the dairy products and meat groups being counteracted by a rise in that for the groceries group. The general index number of wholesale prices shows a rise of one point since October, an increase of eleven points in the index number for locally produced commodities being almost counteracted by a fall of eleven points in that of imported items. The index number of share prices, which fell slightly last ' month, has again moved upwards, the November index, 893 (on the base: 1926 prices= 1000), representing an increase of 34.1 per cent, over the lowest level (666 in April, 1932).