1931 — Page 454

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