THE SOVEREIGN.
The purchasing power of the sovereign is slowly but surely declining in New Zealand. This is due to many causes—shortage of foodstuffs, increased wages, and . reduced production being among the most important. The latest official figures show that the sovereign has reached its lowest purchasing value since the war began, 31s ljd being required to buy necessaries which could have been bought in 1914 for a sovereign. The cost of living has, according to statistics, gone up 48.13 per cent, since pre-war times, and shows an increase compared with August last. This is explained as being due to rising prices in potatoes ' and onions, which is regarded as a soasonal increase. While soap has increased as a result of wholesale prices rising, the cost of tinned foods has increased owing to packers' quotations rising and the continued adverse condition of the American exchange, ftfeat prices also advanced considerably in a number of towns, particularly in Christchurch and Dunedin.
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Bibliographic details
Wairarapa Age, 17 November 1919, Page 4
Word Count
160THE SOVEREIGN. Wairarapa Age, 17 November 1919, Page 4
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