390 



The Agricultural Index Number. [Aug., 



fluctuations which are more or less normal to the time of year 

 are practically eliminated. Hitherto the monthly index number 

 has been based on the average prices of the three years, 1911-13. 

 The actual difference is not great in practice, but the present 

 system shows the price changes more accurately. 



Percentage Increase as compared 

 with the average prices ruling in 

 the same months of 1911-13. 

 1921. 1922. 



January 183 ... 75 



February 167 ... 79 



March 150 ... 77 



April ... 149 ... 70 



May 119 ... 71 



June 112 ... 68 



The June figures show on the whole a slight reduction from 

 those of May. This is attributable principally to the recent 

 decline in the value of fat sheep and potatoes, both of which 

 reached a very high point in May but have since declined 

 considerably. Other changes during June were comparatively 

 slight. 



The changes which have taken place during the past six months 

 are, however, rather striking in the case of several commodities, 

 as will be seen in the following table which is calculated on the 

 same basis as that referred to above : — 



Percentage Increase as compared with the 

 average prices ruling in the same 

 months of 1911-13. 





Jan. 



Feb. 



Mar. 



Apr. 



May 



June 



Wheat 



44 



50 



66 



57 



62 



60 



Barley 



51 



49 



46 



49 



49 



58 



Oats 



49 



48 



53 



49 



53 



57 



Fat cattle . . . 



62 



67 



66 



65 



70 



71 



Fat sheep ... 



60 



72 



100 



128 



140 



121 



Fat pigs 



71 



82 



85 



90 



91 



82 



Eggs 



114 



166 



95 



89 



50 



69 



Poultry 



76 



80 



77 



83 



110 



116 



Milk 



125 



117 



92 



42 



27 



28 



Butter 



46 



41 



37 



49 



54 



59 



Cheese 



27 



33 



42 



46 



48 



55 



Potatoes 



113 



122 



112 



95 



140 



80 



Hay 



35 



32 



32 



28 



33* 



35 



* * * 





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