CO129-569-14 Cost of living figures 14-2-1938 - 21-11-1938 — Page 6

6

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I attach a draft of changes in the cost of

living as shown by the figures prepared by

Messrs. Butterfield and Swire. It shows no very

remarkable features, unless the stability of prices

may itself be considered remarkable during the

abnormal period through which Hong Kong is passing.

It will be seen that the total cost of living and,

in a greater degree, the cost of food has risen

between October, 1936 and October, 1937 but since the

latter date both figures have remained about level.

These figures, of course, refer to the cost

of living as expressed in dollars and ignore the

salaus effect of exchange fluctuations on sterling . In general, however, these figures would appear to

show that there has been no considerable increase in

the cost of living for Europeans paid in sterling

either.

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