COST OF LIVING

Otago Daily Times, Issue 24411, 24 September 1940, Page 3

COST OF LIVING

MOVEMENTS OF PRICES SLIGHT INCREASE IN JULY The retail prices index (base: 192630. equals 1000) for the three food groups for July shows an increase of three points since June (from-1071 to 1074), reports the Government Statistician. The general slight advance in the price of meat was reflected by an increase of 21 points in the index for this group. Further seasonal reductions in the price of eggs have resulted in a decrease of 17 points in the: dairy produce group, but no movement took place in the index for the groceries group. •

When the July indexes for food and ruel and light are combined with the February rent index and the May indexes for the remaining groups, an allgroups index of 1024 is obtained. one point above that for the previous month and 63.1 per cent, above the 1914 level. The in the allgroups index as compared with August 1939. is 2.9 per cent.'

The wholesale prices index (base. 1926-30 equals 1000), rose 15 points in July (from 1190 to 1205). An increase of 29 points in the index for imported commodities due principally 'to - the higher prices ruling for metals and textiles was counterbalanced to some extent by a decrease of six points in the index for locally-produced commodities, caused by seasonal reductions in the prices of eggs and potatoes.

The export prices index (base: 190913 equals 1000) at 1532 in July is higher by eight points than in June. Sharp advances in the prices of sheep and rabbit skins (resulting in an increase of 173 points in the index for the skins and hides group) were the principal cause of the rise. Other groups show little change, the movement in the principal indexes being:—lncreases: Minerals. 31 points: timber 29 points Decrease: Meat 15 points The share prices index (base: 1926 equals 1000) for all groups at the end of July was 891, an increase of 39 points as compared with the June index. The index for industrial shares separately was 918, an increase of 30 points over that for the previous month.