SOARING PRICES

Dominion, Volume 12, Issue 230, 23 June 1919, Page 5

SOARING PRICES

COST OF LIVING IN SYDNEY . BIG JUMP IN RICE When the armistice was 6igned, and increased facilities provided, it . was generally thought that the cost of living would not be eo acute. This idea lias not been realised; in fact, the cost of living to-day is greater than at any period during the last five years. Prices 'of necessary commodities nave gone ahead by leaps, especially during the last few days. In some instances the rates demanded are from 200 to 300 per cent, above those ruling in pre-war days. Breakfast Egg, 3Jd. It is impossible to buy suburban newlaid eggs , wholesale under 3s. per dozen, while the retail price has moved up to Ss; id. These figures' have never before been equalled. In May, 1911, the wholesale rate for new-laid was 2s. 5d., in 1912, 25. a.; 1913, 2s. Bd.; 1914 (the drought year), fc.-3d.;.1915, 2s. 4d.; 1916, 2s. 7d.i 1917 and 1918, 2s. Bd. The supplies that were placed in co!d storage by the speculators at the end of last year were a record, totalling 20,000 .eases. At> these opened up in a much better condition than any other.year, they were cleared out early, and it is Said that the speculator reaped an average profit of 15s. per case of 36 dozen, equal to ,£15,000. Exchange Affects Groceries, Australia is dependent on the Eastern countries for many lines, euch as nee, tapioca, tea, coffee, spices,■ and'linseed. These are now at phenomenal figures, chiefly because the Indian rate of exchange, which for a long time stood at Is. Get 11-32 d. per rupee, has risen to Is. 8 3-Bd. in the course of a few days, on account of silver having touched ss. Bd. per ounce, tho'highest price for 43 years. Japanese, China, and Singapors rates have also had a- sympathetic movement. The higher exchange rate mean» an increased cost from ljd.. to 2}d. per lb.' on tea, or Is. per dozen on branbags or cornsacks, and from 6d. to 9d. each on the price of woolpacks. For more than six weeks the wholesale markets have been bare of rice, and the retailers who were carrying surplua stocks commanded up to Bd. per lb., an unheard-of price. In pre-war times prices ranged from 2d. to 3d. per lb. A shipment came from the East a- few days ago, and opened up at -475. per cwt., which represents a rise of' 18s. since the-Federal Government released control of values Tapioca; which a month ago brought from 285.,t0 295., is to-day bringing from 335: to 345. per cwt. In pre-war times values ranged from 225. 6d.to 255. Tea and Coffee. Dearer. ' There has been an all-round rise in tea, and some of the best brands, it is reported, are now from lid. to 2&d. per lb. dearer on the rates quoted earlier in the year. New Zealand has been buy-iV-on'this market, and at present stocks are on a low basis. It will, according to prominent importers, be another six weeks before stocks reach hero from Colombo. In the meantimo there is going to be a scratch for supplies. Wholesalers are already buying from one another at premiums to supply regular customers. What of the Future? With the value of the pound sterling depreciating wt-ek by week, tho worries of the housewife are increasing daily. In every home the question is being asked, "'What will the future bo?" The position was put to n number of merchants recently, and they declared that they were not in a position to say whether the normal prices of 19U will ever 'be reached again. Everything/ they pay, depends on the cost of the raw material, and labour conditions.