COST OF LIVING

Waihi Daily Telegraph, Volume XXVI, Issue 7903, 17 September 1929, Page 2

COST OF LIVING

RETAIL PRICES FOR JULY MONTH SLIGHT DECREASE NOTED The retail price index (Dominion weighted average) for the three food groups as at 15th July, was 15 62 (on the base—average prices in the four centres during the years 1909-13 equal 1000), a decrease of 12 points as compared with that for the previous month, and an increase of 46.0 per cent, over that for July, 1914. The continued fall in sugar prices, together with a reduction in the price of bread in some towns, has been counteracted by a rise in the .price of potatoes and onions in most centres; the combined effect of these movements is reflected by a 6-point decrease in the index number for groceries. Although butter and bacon have risen slightly in price, further reductions in the price of eggs have caused the dairy produce index number to fall 53 points. The rise of 7 points in the meat index number is the result of slight increases in the prices of beef and mutton.

Expenditure on food constitutes somewhat less than two-fifths of the expenditure of an average household, but when combined with the indexes for rent, and fuel and light approximately S 7 per cent, of the expenditure is represented. The July food and fuel and light index numbers, when combined with the May clothing, drapery, footwear and miscellaneous items index numbers and the February rent index number, give an “all groups” index G 0.2 per cent, above the July, 1914, level, so that it now takes £1 12s on the average to purchase what could have been purchased for £l in that month.