Indexes of Average Daily Wage Rates (Excluding Fringe Benefits) in Manufacturing Industry, 1971–1976
Table 7
Old Index (Mar 1964=100)
New Index (Jul 1973-Jun 1974-100)
Nomiral
% change on previous index
Real*
% change on previous index
Nominal
% change on previous index
Real*
% change on previous index
1971 Mar
196
8.9
148
7.2
Sep
208
6.1
154
4.1
1972 Mar
218
4.8
160
3.9
Sep
230
5.5
161
0.6
1973 Mar
243
5.7
162
0.6
Sep
256
5.3
147
-9.3
1974 Mar
263
2.7
142
3.4
102
101
Sep
263
0.0
135
-4.9
102
0.0
96
-5.0
1975 Mar
261
-0.8
133
-1.5
102
0.0
96
0.0
Sep
274
5.0
139
4.5
106
3.9
99
3.1
1976 Mar
305
11.3
153
10.1
Sep
321
5.2
157
2.6
118
11.3
108
124
5.1
111
9.1
2.8
* Real Index (old) is obtained by deflating Nominal Index (old) by the Modified Consumer Price Index; Real Index (new) is obtained by destating Nominal Index (new) by the
New Consumer Price Index (A). Six-monthly averages of price indexes up to and including the month indicated were used. ↑ New Index has a wider coverage of industry Sectors than the Old Index.