CAB129-37 — Page 810

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31. The Board of Trade index of wholesale prices (1938=100) rose by 2-8 per cent. from 226.5 in September to 232.8 in October. The index for food and tobacco increased from 205 2 to 215 3, reflecting partly the effects of devaluation and partly seasonal rises in fruit and vegetable prices. The index for industrial materials and manufactures rose from 238 3 to 242:3, the most important increases being in non-ferrous metals, cotton, wool, petroleum products and rubber. The total index of wholesale prices rose further in November to 236 3.

VIII.-Wage Rates

32. The Ministry of Labour's index of weekly wage rates (June 1947=100) remained unchanged in October at 109.

33. Increases in wage rates which became effective in October added approxi- mately £134,000 to the weekly wage of about 783,000 workers. This is much larger than the average monthly increase of £90,000 from January to September. The principal increases were in building and contracting, where labourers received the first instalment of 1s. 10d. per week of the increase of 5s. 6d. per week agreed last April, and in the retail food sections of the distributive trades where new statutory minimum rates came into force.

34. The National Arbitration Tribunal has considered the claim for a sub- stantial wage increase in the electrical contracting industry and has refused to make an award for six months. The Tribunal has recommended that the two parties should consider the introduction of production incentive schemes which the Tribunal had recommended when it awarded a wage increase in November 1948.

35. During the ten months January to October there has been a net increase of about £946,000 in the weekly wages of 4,976,000 work people. This compares with an increase of £1,748,000 in the weekly wages of 7,159,000 work people in the corresponding period of 1948.