CONSUMERS' RATIOS 55 



represented the price of sirloin steak in cents per pound. For 

 other commodities sold at retail the ratio factors were : 



TABLE 1. 



Round steak, per pound $f .159 



Rib roast, per pound 148 



Pork chops, per pound 157 



Bacon, per pound 206 



Ham, per pound 199 



Lard, per pound 122 



Hens, per pound 165 



Eggs, per dozen 267 



Butter, per pound 294 



Milk, per quart 071 



Flour, per bag of 24.5 pounds 722 



Corn meal, per pound 023 



Potatoes, per peck 243 



Sugar, per pound 051 



It is interesting to note that in September of 1919, when there 

 was a universal outcry against retail prices, an outcry vigorously 

 encouraged by notoriety-seeking politicians, that retail prices were 

 about as might have been expected from Dun's index number. 

 Dun's index number was $238.34 on September 1, 1919, and the 

 first column of Table 2 gives the retail price which we might expect 

 by applying the standard ratios. The second column gives actual 

 prices on September 15th, as reported by the^ Bureau of Labor 



Statistics : 



TABLE 2. 



Sirloin steak, per pound $ .436 $ .409 



Round steak, per pound 379 .379 



Rib roast, per pound 352 .312 



Pork chops, per pound 374 .460 



Bacon, per pound 490 .556 



Ham, per pound 474 .552 



Lard, per pound 291 .382 



Hens, per pound 393 .414 



Eggs, per dozen 636 .632 



Butter, per pound 701 .657 



Milk, per quart 169 .157 



Flour, per bag of 24.5 pounds 1.721 1.790 



Corn meal, per pound 055 .067 



Potatoes, per peck 579 .645 



Sugar, per pound 122 .110 



The factors as worked out in Table 1 are ratios between yearly 

 average retail prices and yearly average Dun's index numbers. 

 Kven retail prices, however, have some seasonal swing. For in- 

 stance, meats tend to be cheaper in the winter than in the summer, 

 whereas butter and eggs tend to be cheaper in the summer than in 

 th winter. Because of the seasonal swing, the first column 'of 

 Table 2 is not absolutely accurate. For instance, the retail price 

 of sirloin steak in September is usually about 2 per cent higher 



