BUYING POWER REDUCED
BRITISH TRADE DECREASE LEISURED CLASS AFFECTED RETAIL INDEX COMPILED IMPORTANT MOVE BY BANK By Telegraph—Press Assn. —Copyright. Rec. 7 p.m. London, Sept. 25. The Bank of England announces an important innovation—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 stock held. The next stage will be a calculation of a retail trade index by the bank.
The first joint report by the bank and the association shows prices were lower in August and trade was less, with signs of reduced purchasing power by the public, especially by the leisured classes.
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Taranaki Daily News, 26 September 1930, Page 7
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141BUYING POWER REDUCED Taranaki Daily News, 26 September 1930, Page 7
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