CHANGING PRICES.

Taranaki Daily News, 6 May 1926, Page 10

CHANGING PRICES.

FALL IN GROCERIES. The following appears in the. April issue of* the “Abstract of Statistics” published by the Government Statistician:— “’The retail price-index (Dominionweighted average) for the three food groups (groceries, dairy produce, and meat) as at March 15 was 1623 (on the base: average prices for the four chief centres during the years 1969-13, equal 1000), involving a fall of 18 points as compared with the corresponding index for the preceding month and showing a price-level 51.7 per cent, above that for July, 1914 (viz., 1070). ‘Tn the groceries group a fall of 21 •points since last month has been occasioned mainly by a drop in the price of potatoes. A rise of 16 points in the dairy produce group is attributable mainly to increases in egg prices. The fall in meat which commenced last November continues, a drop of 19 points being recorded in March. Lower prices prevailing this year for sugar account for a fall of 40 points in the, groceries group this March as compared with last March. All items of dairy produce have risen since March last year, causing an increase of 51-points in this group; in the case of the meat group a similar general increase of 88 points is recorded, prices of beef and pork showing definite increases all round and prices of mutton showing a slight increase in most towns.

“Expenditure on food constitutes somewhat less than two-fifths of the total expenditure of the average Now Zealand household. If the last ascertained price indexes for other groups of items of domestic expenditure on base: July, IM4, equal 1900—rent (that for February, 1926—viz., 1742*), fuel and light (that for March, 19-26—viz., 1758-f); clothing, drapery, and footwear (that for February, 19*26—viz., 1573) and miscellaneous items (that for February, 1926—viz., 1688)—were combined in their proper respective proportions with the food price index for March, 1926 (viz., 1517), the result would be to show an increase for the ‘all groups’ retail price-level of 62.0 per cent, over the level of July, 1914. It now takes 30s sd. on the average to purchase what 20s would purchase in the month preceding the outbreak of the Great War.” *The February, 1926, price index for rent on base: Average of years 1909 to 1913 equal 1000 was 1714. fThe March, 1926, price index for fuel and light on base. Average of years to 1913 equals 1000 was 1714.