THE COST OF LIVING

Taranaki Daily News, Volume LVII, Issue 278, 3 May 1915, Page 2

THE COST OF LIVING

COMPARISON WITH 1875. By Telegraph.—Press Association. Wellington, May 1. Giving evidence at the Arbitration Court today, Dr. Mcllraith dealt with the relative cost of living to-day and in 1875. Witness said he had made a close study of the wholesale prices of goods. Prices last year, prior to the war, were not as high as in 1875, but were about 5 per cent, lower. It was about the year 1875 that wholesale prices of most commodities began to fall all over the world towards the end of a long period of prosperous times. Retail prices, i.e., the cost of living, increased faster than wholesale prices, but in a time like the present wholesale prices seemed to increase much faster than retail prices. It any reason could be assigned for this he would say it was that towards the end of the year people had more money to spend and they were not critical of retail prices, but in a time like the present the shopkeeper was under the public eye more than the wholesale dealer. Wholesale prices had increased twice as rapidly as the retail prices since the war, or 20 per cent., as against i) per cent. The rise had been chiefly in farm produce. Before the war broke out farm produce had reached the highest level since 1579.