PRICE OF MEAT

Waikato Times, Volume 127, Issue 21196, 20 August 1940, Page 7

PRICE OF MEAT

Id A LB DEARER INCREASE FROM TODAY . NORMAL BY JANUARY 1 (By Telegraph.—Press Association) WELLINGTON, Monday The price of meat will be one penny a pound higher from tomorrow. A statement issued by the Minister of Supply, the Hon. D. G. Sullivan, tonight, announces that in accordance with previous statements by him it has become necessary to make a further adjustment in the retail price of meat. In his earlier announcements the Minister pointed out the inadvisability of introducing a complicated method of supervision of auction prices or the institution of any system which might have the effect of debarring the farmer from being adequately compensated for the extra cost of cattle fattened during the winter for spring sale. In order to protect both the public and the producer it had been decided that the whole situation would best be dealt with by the regulation o£ retail prices. The Price Tribunal had approved as from July 1 an increase in the retail price of meat to the extent of a halfpenny a pound. It was realised at the time that a further final rise was inevitable to cover the more difficult period from August to November. Accordingly, a further increase of a penny a pound, which will operate from tomorrow, has been approved. Small Goods Exempt As previously, this is a permissive, not an obligatory, increase. Bacon and other goods commonly known to the trade as small goods are again excluded from the scope of the order. The new price order has this redeeming feature that, while imposing an increase, it provides also a reduction in prices. On the first days of November, December and January next prices will drop a halfpenny a pound, with the result that by January 1 the total increases approved will have been wiped out and prices will be back to normal.