COST OF LIVING
INCREASE IN JULY RETAIL-PRICES INDEX •»The retail-prices index (base 192630 equals 1000) l'or the three food groups has risen 11 points, the index for July being 1051, as compared with 1040 in June, reports the Government Statistician. While the indexes for the dairy produce and meat groups remained almost. stationary, the groceries index number rose 33 points, the price of potatoes being the predominant cause of the movement. When the July indexes for the three food groups and for fuel and light are combined with the May indexes for the clothing and miscellaneous groups and the February rent index, an all-groups index of 984 is obtained, 'an increase of 4 •points during the month and of 57 per cent, as compared with the 1914 level.
The wholesale-prices index (base 1926-30 equals 1000) records an increase of 7 points from 1058 in June to 1065 in July. Little movement took place in the index for imported goods, but a decided increase in the price of potatoes caused the index for locallyproduced commodities to rise 15 points.
The indexes discussed in the previous paragraph are the first of a new series (onWthe base, as. stated, of 1926-30 equals 1000). They do not differ materially .in their construction from the old series. Apart from the change of base the main points of difference are: (a) Weights have been r.odified in accordance with changes in usage; (b) “double counting” (the inclusion of a commodity once in its raw state and regain in a manufactured condition) has been eliminated as far as possible; and (c) new items have been included and others that have proved unsatisfactory have been umitted.
The export-prices index (base 190913 equals 1000) rose 39 points, from 1269 in June to 1308 in July, the principal movements taking place in the following groups:—lncreases: Dairy produce, 87 points: wool, 58 points. Decreases: Meat, 45 points; minerals, 79 points.
The shore prices index (base 1926 equals 1000) at the end of July at 870 was 11 points above that for June. r
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Bibliographic details
Gisborne Herald, Volume LXVI, Issue 20050, 23 September 1939, Page 6
Word Count
341COST OF LIVING Gisborne Herald, Volume LXVI, Issue 20050, 23 September 1939, Page 6
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