19
WHOLESALE PRICE CHANGES.
As measured at the Statistical Office of the Imports and Exports Department, wholesale prices in Hong Kong during the year 1933, showed decreases of 15.4% as compared with 1932, 24.2% as compared with 1931, 3.1% as compared with 1924, and increases of 3.5% as compared with the base period of 1922, and 61.7% as compared with 1913.
There were decreases in each of the four groups of commodities in 1933, as compared with 1932: Foodstuffs declining by 10.4%, Textiles by 22.5%, Metals by 15.8%, and Miscellaneous Items by 12.8%.
The following table shows the course of available wholesale price changes since 1913:-
1913. 1922. 1924. 1931. 1932. 1933. Foodstuffs 97.0 78.6 100.0 106.1 126.5 113.4 Textiles 55.1 100.0 112.5 135.8 125.2 Metals 63.2 100.0 102.3 140.9 128.1 Miscellaneous 64.0 100.0 106.3 125.4 109.7 95.7 Average of all Articles 64.0 100.0 106.8 136.6 122.4 103.5Chapter VIII.
WAGES AND THE COST OF LIVING.
A great proportion of the workers in Hong Kong are paid on a piece work basis and in some trades are engaged and paid on curiously complicated systems involving payment of a bonus or a share in the yearly profits.
2. Local trade was dull during the year. This may be attributed to the world depression and to the high tariffs imposed by the Chinese Government. Towards the end of the year, however, a marked improvement was shown in some industries, e.g. rubber shoes, dry batteries for electric torches, leather goods, mosquito sticks, etc., and a new tannery was opened. The close of the year showed a definite slackening off in the building boom which had continued unabated throughout the year 1932. A certain number of people, being unable to find employment in the Colony, have returned to their native districts in China, and the supply of tenement houses may now be said to exceed the demand. There has consequently been a general decline in the rents of tenement houses, flats, offices and shops occupied by Chinese. In the case of premises occupied by Europeans, the decline in rentals is hardly apparent yet. There has been no noticeable change in the average rates of wages for labour, but the prices of all Chinese foodstuffs, except fresh fish, and of fire-wood show a slight decline.
19
WHOLESALE PRICE CHANGES.
As measured at the Statistical Office of the Imports and Exports Department, wholesale prices in Hong Kong during the year 1933, showed decreases of 15.4% as compared with 1982, 24.2% as compared with 1931, 3.1% as compared with 1924, and increases of 3.5% as compared with the base period of 1922, and 61.7% as compared with 1913.
There were decreases in each of the four groups of com- modities in 1933, as compared with 1932: Foodstuffs declining by 10.4%, Textiles by 22.5%, Metals by 15.8%, and Miscellaneous Items by 12.8%.
The following table shows the course of available wholesale price changes since 1913:-
Foodstuffs
Textiles
1913. 1922. 1924. 1931. 1932. 1933.
97.0
107.8
.78.6 100.0 106.1 144.3 126.5 113.4
..55.1 100.0 112.5 135.8 125.2
..63.2 100.0 102.3 140.9 128.1
.64.0 100.0 106.3 125.4 109.7 95.7
Metals
Miscellaneous
Average of all
Articles ..........64.0 100.0 106.8
..64.0 100.0 106.8 136.6 122.4 103.5
Chapter VIII.
WAGES AND THE COST OF LIVING.
A great proportion of the workers in Hong Kong are paid on a piece work basis and in some trades are engaged and paid on curiously complicated systems involving payment of a bonus or a share in the yearly profits.
2. Local trade was dull during the year. This may be attributed to the world depression and to the high tariffs imposed by the Chinese Government. Towards the end of the year, however, a marked improvement was shown in some industries, e.g. rubber shoes, dry batteries for electric torches, leather goods, mosquito sticks, etc., and a new tannery was opened. The close of the year showed a definite slackening off in the building boom which had continued unabated throughout the year 1932. A certain number of people, being unable to find employment in the Colony, have returned to their native districts in China, and the supply of tenement houses may now be said to exceed the demand. There has consequently been a general decline in the rents of tenement houses, flats, offices and shops occupied by Chinese. In the case of premises occupied by Europeans, the decline in rentals is hardly apparent vet. There has been no noticeable change in the average rates of wages for labour, but the prices of all Chinese foodstuffs, except fresh fish, and of fire-wood show a slight decline.
No comments yet.
Private notes are available after approval.