866 The Monthly AGEicrLTiEAL Index Number. [Jan., 



The index number of the prices of agriciiltiirai produce, which 

 is prepared each month b}^ the ^Ministry, and is based upon the 

 The Monthl P'"iccs at representative markets published 

 .... . each week in the " Return of Market 



Index Number ^^'i^^^s " (now the " Agricultural Market 

 Repoii;- "), shows that during November 

 the general level of prices of agricultural produce in England 

 and Wales was about 84 per cent, higher than in 1911-1913. 

 The decline which has continued almost without interruption 

 since November, 1920, was thus checked to some extent; the 

 prices in the previous month were about 90 per cent, above 

 those ruling in pre-war days, so that the fall indicated by the 

 latest figuies is only 6 points, compared with 15 points from 

 September to October. The following table shows the figures 

 for each month since the beginning of 1919 : — 



Increase per cent, on the average of 

 Month. the years 1911-1913. 





1919. 



1920. 



1921 



January ... 



148 



213 



186 



February 



150 



205 



172 



March 



150 



199 



158 



April 



153 



199 



141 



May 



132 



169 



112 



J line 



128 



164 



102 



'Tuly 



141 



174 



100 



August 



138 



177 



116 



September ... 



148 



181 



105 



October 



166 



191 



90 



November ... 



182 



197 



84 



December... 



207 



194 





Practically all classes of produce were concerned in the fall 

 in November, the chief exceptions being eggs and milk. The 

 average price of wheat during November was only 45s. per 

 480 lb. or less than 40 per cent, higher than in 1911-1913, 

 while oats were also less than 40 per cent, dearer than in pre- 

 war days. Fat stock of all descriptions declined considerably 

 in price, although the decline was somewhat less marked than 

 in the previous month. Dairy cows were rather dearer, but 

 store stock showed little alteration in price compared with the 

 previous month, but remained relatively cheaper than fat stock. 



Feeding stuffs showed little change in price, milling offals 

 and maize being slightly dearer and oilcakes experiencing a 

 coiTespondingly slight decline. Fertilisers also were not greatly 

 altered from the previous month, although superphosphate and 

 nitrate of soda were inclined to be easier in value. 



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