452
(S. 34)
During the year 1931 commodity prices in Hong Kong showed increases of 29.8% as compared with the year 1924, 36.6% as compared with the base period of 1922, and an average index figure for all articles slightly more than double that for the year 1913.
As compared with the year 1922 world wholesale prices fell approximately 30%, and the increases in the Hong Kong index figures were almost entirely due to the depreciation of local currency which averaged 2s. 6d. in 1922, 2s. 4½d. in 1924 and 1s. 3d. in 1931.
The sterling value of Hong Kong currency showed an upward trend in the last quarter of the year following the cessation of gold exports from Great Britain, this being reflected in a slight fall in prices.
The following table shows the course of price changes since 1913.
| Category | 1913 | 1922 | 1924 | 1931 1st Qtr. | 1931 2nd Qtr. | 1931 3rd Qtr. | 1931 4th Qtr. |
|---|---|---|---|---|---|---|---|
| Foodstuffs | 73.6 | 100.0 | 106.1 | 144.3 | 144.1 | 147.3 | 142.2 |
| Textiles | 55.1 | 100.0 | 112.5 | 143.7 | 135.8 | 147.9 | 143.1 |
| Metals | 63.2 | 100.0 | 102.3 | 128.7 | 123.5 | 140.9 | 138.5 |
| Miscellaneous | 64.2 | 100.0 | 106.3 | 143.8 | 143.3 | 138.2 | 125.4 |
| Average all Articles | 64.0 | 100.0 | 106.8 | 136.6 | 139.8 | 140.4 | 133.2 |
| Item | 1924 | 1931 |
|---|---|---|
| Beans | 100.3 | 130.9 |
| Beef | 116.9 | 218.0 |
| Eggs | 94.5 | 131.1 |
| Flour (Wheat) | 96.4 | 111.0 |
| Salt Fish | 87.6 | 125.9 |
| Fruits, Fresh | 123.4 | 306.7 |
| Lard | 106.9 | 138.0 |
| Milk (Condensed) | 92.2 | 185.2 |
| Mutton | 114.3 | 173.9 |
| Onions | 103.1 | 141.1 |
| Peanut Oil | 111.6 | 117.1 |
| Pork | 103.6 | 133.5 |
| Potatoes | 93.4 | 109.0 |
| Poultry | 111.0 | 175.2 |
| Rice (Broken) | 112.3 | 126.1 |
| Rice (White) | 110.2 | 133.2 |
| Sugar (Raw) | 135.8 | 99.9 |
| Vegetables (Dried etc.) | 96.3 | 64.3 |
| Vermicelli | 100.5 | 120.2 |
452
(S. 34)
WHOLESALE PRICE CHANGES.
During the year 1931 commodity prices in Hong Kong showed increases of 29.8% as compared with the year 1924, 36.6% as compared with the base period of 1922, and an average index figure for all articles slightly more than double that for the year 1913.
As compared with the year 1922 world wholesale prices fell approximately 30%, and the increases in the Hong Kong index figures were almost entirely due to the depreciation of local currency which averaged 2s. 6d. in 1922, 2s. 44d, in 1924 and 18. 03d. in 1931
The sterling value of Hong Kong currency showed an upward trend in the last quarter of the year following the cessation of gold exports from Great Britain, this being reflected in a slight fall in prices.
The following table shows the course of price changes since 1913.
1913
Foodstuffs
73.6
Textiles
Metals
Miscellaneous
1922 1924
100.0 106.1 55.1 100.0 112.5 63.2 100.0 102.3 64.2 100.0 106.3
·
1931 1st Qtr. 2nd Qtr. 3rd Qir. 4th Qtr. 144.3 144.1 147.3 142.2 143.7 135.8 147.9 143.1 128.7 123.5 140.9 138.5 143.8 143.3 138.2 125.4 129.7 127.5 118.6
125.5
Average all Articles
64.0
100.0
106.8
136.6
139.8 140.4 133.2
132.7
INDIVIDUAL AVERAGES
(1922-100)
Foodstuffs
Beans
1924
1931
100.3
130.9
Beef
Eggs
116.9
'218.0
94.5
131.1
Flour (Wheat)
96.4
111.0
Salt Fish......
87.6
125.9
Fruits, Fresh
123.4
306.7
Lard
106.9
138 0
Milk (Condensed)
92.2
185.2
Mutton
114.3
173.9
Onions
103.1
141.1
Peanut Oil
111.6
117 1
!
Pork
Potatoes
103.6
133 S
93.4
109.0
Poultry
111.0
175 2
Rice (Broken)
112.3
126.1
Rice (White)
110.2
133.2
Sugar (Raw)...................!.
135.8
99.9%
Vegetables (Dried etc.)..
96:3--
..64.3
Vermicelli
100:5-
-120:2
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