LOWER PRICE INDEX.

Taranaki Daily News, 13 May 1921, Page 7

LOWER PRICE INDEX.

FURTHER FALL IN MARCH./

HIGHER “WORTH” OF MONEY.

The index numbers of retail prices in New Zealand in March are published in the abstract of statistics. That for the three food groups is 1810, showing a decrease of 63 points compared with the preceding month’s figures. It is 69.16 per cent, higher than that for July, 1914 The March index is the lowest since last July, the figure for which was 1791. There was a decrease of 13 points in the groceries group, mainly accounted for by a further fall in the price of tinned fruits, while cream of tartar also manifests a universal reduction in price. The fall of 171 points in the meat group is due to a still further reduction in the price of all cuts. The “moving average” index number for the six months ended March for food, rent, fuel and light is 1660, an increase of 1 point on the average for the six months ended February, and of 82 points on that for the six months ended September, 1920. The percentage increase for the last six months is 59.62, against 51.73 for the September period. Another table shows tha'-J *the purchasing power of money has Znofeased. In the March quarter the average worth of the pre-war pound in terms of the three food groups is given as Ils s.fd, against Ils 3d in the December quarter and Ils Bfd in the September quarter.