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Hokitika Guardian, 22 September 1931, Page 4

Tub report of the Department of Industries and Commerce presented to Parliament last week claims that a careful watch is being kept upon price movements, although it is pointed out that under keen competition traders’ vrofits have been curtailed considerably. The department has been closely engaged upon investigations re-law v© to prices charged by traders in respect of a wide rangr of commodities, in an endeavour to give effect to the desire of the Government- that the benefit of the general reduction in salaries and wages should he passed on to the public,” the report says. “The pi ices of flour and bread have been under investigation, and reports have been prepared showing the position of the different interests and the eosts involved. As a result of the department’s inquiries, combined with the in flu-nee of competition among traders, > prices of bread have definitely fallen hi a number of cities and towns. The prices of meat have beeil-uiiclei'.review, a lid the department has assured itself that there is ample competition in this trade to ensure that the public receives a fair return for its outlay, The pieces and distribution of fish have been the subject of a report recently submitted for consideration c-f the Government. Investigations are being car. vied -out by the department into the prices and casts of distribution of p-trol and cement, and into the cods ref production and price's of bricks and earthenware pipes. Price inquiries have also been made relative to sugar, butter, bran and pdllard, eggs, fertilisers, and bacon.' Over an extensive field price inve e tig"tions are rendered unnecessarv by energetic price competition. B°th as a result of this com-p-tition au-d as a result of the pro- , vailing depression, the profits of many traders have been seriously diminished and in numerous instances substantial losses have occurred. Under such cvrcumstanoes it cannot reasonably be; exported that reduced labour costs will immediately be. attended by further reductions in whole'ale or retail prjcps. Moreover, in some trades and industries general reductions "have been made the time which Ins elanscd is yet t n o short to reveal the benefit of reduced labour costs in reduced wholesale of re. fa,il prices. Wherever possible, however. effective .steps are being taken by the department to- ensure , that reductions in salaries and wages are being taken by the department to ensure that reductions in, salaries and wages are passed on to the public in the form of lower prices, and evidence is forthcoming that reductions in prices due to loAver wage costs are definitely being made in many instances and in respect of a. wide range of commodities and services.