§ Mr. A. Lewisasked the Minister of Agriculture, Fisheries and Food whether he is aware that from October, 1951, until June, 1964, food import prices rose by five per cent. and for the same period to May, 1964, the retail price of food rose by 56 per cent.; and what was the percentage rise until June, 1964.
§ Mr. SoamesIt is estimated that import prices of food, drink and tobacco rose by some 8 per cent. between October, 1951, and May, 1964. No Index for June is as yet available.
Retail food prices* have risen by about 52 per cent. between October, 1951, and May, 1964, and by about 54 per cent. between October, 1951, and June, 1964. May and June are usually seasonally high months.
* Based on consumer price index for food in calendar years 1952–63, extended by the food component of the monthly Index of Retail Prices.
§ Mr. A. Lewisasked the Minister of Agriculture, Fisheries and Food whether he is aware that from March, 1957, until March, 1958, import prices of food fell by 8 per cent. whereas the retail price of food rose by 5 per cent. for the same period; and, as average weekly earnings rose by 3.5 per cent. during this period, what were the reasons for these increased food prices.
§ Mr. SoamesBetween March, 1957, and March, 1958, the official Import Prices Index for food, drink and tobacco fell by about 8 per cent. while the Index of Retail Food Prices rose by 3½ per cent. Weekly earnings rose by about 5 per cent.
More than half the rise in food prices was accounted for by the difference in the price of home-grown potatoes in the two months compared.
Comparisons over a relatively short period between the level of retail prices and any one of the many factors which influence that level can be misleading. In 1958 import prices were falling from the high level reached in 1956–57. A comparison over the two-year period March, 1956, to March, 1958, would show a fall of about 5 per cent. in import prices, a rise of 2¾ per cent in retail food prices and of 8 per cent. in weekly earnings.