SOARING PRICES.

Taihape Daily Times, 30 June 1919, Page 5

SOARING P RICES.

COST OF LIVING IN SYDNEY. . BIG JUMP IN RICE. ’ When the armistice was signed and increased facilities provided, it was ‘generally thought that the cost of living would not be so acute, This idea. has not realised; in fact, the cost of living to-day is greater than at any period during -the last five years. Prices of necessary commodiitcs have gone ahead by leaps, especially during the last few days. In some in stances the rates demanded are from 200 to 300 per cent. above those ruling in pre-war déiys_ BREAKFAST EGG, 3§d. It is impossible to buy wholesale under 3/ "per dozen, iv‘fi'ile the retail price has moved to 3/4. These figures have never before been equalled In May 1911, the wholesale rate for new-laid was 2/5, in 1912, 2/4; 1913, 2/8; 1914, (the drought. year) 2/3; 1915, 2/4; 1916, 2/7; 1917, and 1918 2/8. The Supplies that there were placed in cold storage by the speculators at the end of last year were a record totalling 20,000 cases. As these opened up in a much better condition than any other year, they were cleared out early, and it is said that thelspeculator re'a‘p'ed an average profit of 15/ per case of 36 cTo‘z"en equal to £15,000. \

‘EXCHANGE AFFECTS GIR.OCER‘IES. {» Australia -is dependent on the Eastern countries for many lines, such as rice, tapioca, tea, coffee, spices and linseed. These are now phenomenal figures chiefly because ‘the Indian rate‘ of exchange, which for a ‘long time stood at 1/6, 11-32 d per rupee, has risen to 1/8 3-8 din the course of a few days, on account of silver having touched 5/8 per ounce, the highest price for 42 years. Japanese, China, and Singapore rates_;.haVe also had a sympathetic movement. The higher eXch’ange‘rat.e means an increased cost from "lid to 21d per lb_ on tea”, or 1:/per‘ dozen on branba'g§Ti-"corn-7 sacks, and from 6d tg 9d each “on the price of irfoolpacks. . i . ' For more than six weeks the wholesale markets. have been bare of rice and the retailers who were carrying surplus stocks coinnla‘n’de’H up to 8d per Ib., an unheard of price. In prewar times prices ranged from 2d to 3d per lb. A shipment - came from the East a few days ago, and opened up at 47/ per r'wt., which represents a, rise of 18/ since the Federal Government released control of xraliies, Tapioca, which’ a month ago T3‘rought_ from 28/ to 29/, is to-«lay bringing from 33/ t0~'34/ per cwt. In ‘fire-war times values ranged fro'in 22/6 to 25/. TEA AND COFFEE DEARER. i There has been an allround rise in‘ tea, and scale of the best’ brands it isreported, are now from 11. dto 25d per lb_ dearer on the rates quoted earlier in the year. New Zealand has been buying on this market, and at: present stocks are on a low basis. It! will/. according to prominment impor-3’ ters, ‘be another six weeks beforei stocks reach here from Colombo. In‘ the meantime there is going to be :I.‘ scratch for supplies VVholesalers are! already buying from one another at premiums to supply regular customers’ WHAT OF THE FUTURE? . i,

With the value of the pound sierling depreciating week by w.eck_, the worries of thc housewife‘ are increasing daily. In every home the question is being asked. “What will the future be?” The position was put to a. number of merchants recently, and they-declared that 1-hc_v \\'vl‘o nof in :1 posifion to say wliethcr the nohnal prices of 1914 will cver be reached again. Everything, they say depends on the cost of the raw material and labour conditions. ‘