SOVEREIGN WORTH MORE.

Taranaki Daily News, 22 August 1921, Page 3

SOVEREIGN WORTH MORE.

PURCHASING POWER UP TO 11/11*. WORLD-WIDE COST OF LIVING. The purchasing power of the sovereign is gradually increasing, and, according to the Government abstract of statistics, has risen to Ils HM in .June last, In March its “worth” was Ils ssd, while in December, 1920, it was as low as Ils 3d. The three food groups dropped 10 points during June, as compared with May, showing an increase of 115.611 per cent., as compared with July, 1914. In the groceries group almost all items contributed to a. drop of 28 points in the index number, potatoes, rice, and tinned fruits showing the largest reductions. A fall of 35 points in the dairy produce grwuF itm wholly alttibuUble !• the

decline in the price of eggs, a decrease of approximately 7U per dozen being general. The meat index number for June was four points in advance of the May figure. Of countries for which statistics of retail prices of food are available New Zealand ranks fifth lowest as regard* percentage increase since July. 1914, the lowest is America, with 49 per cent, increase. Other figures are: South Africa. BO per cent, increase; India (Calcutta). 01; Australia. 65; New Zealand. 66; Canada. 78; Holland (Amsterdam). 99; United Kingdom. 120; Swe« den, 148; T>eremark, 170; Norway. 208; France (Paris), 228; Italy (Rome), 322; Belgium, 334; Germany, 794; Finland, 1007.