The Press: Wholesale Prices

The index of wholesale prices compiled by the U. S. Department of Labor for August reveals an advance to 149.7, compared with 147 for July, and 145 for June, 1924. Of the nine subindex numbers, four advanced, two declined, and three remained unchanged from the previous month. Farm products rose from 141 in July to 145 in August; food advanced from 138 to 144; cloths and clothing from 188 to 190; and chemicals and drugs from 127 to 130. On the other hand, fuel and lighting fell from 173 to 170, and miscellaneous from 112 to 111. Metals and metal products remained unchanged at 130; building materials at 169; and house furnishings at 171.

Of the 404 commodities, included in the Labor Departments’s survey, 167 showed increases in August over July; 99 showed decreases; and in 138 no change of price occurred. The Labor Department indices are based on the 1913 average as 100. At the Armistice, the general index number stood at 203. By May, 1920, it reached its peak for all time at 247. During 1923, the index reached its high point at 159 in March and April; it then declined to 150 in August, rallied to 154 in September, and slumped again to 151 in December. This year the high point was reached at 152 in February; a decline then set in until 145 was registered in June; since then, advances have been seen.

Compared with August, 1923, a considerable decrease has occurred in fuel and lighting materials, metals and metal products, building materials, and housefurnishings; smaller declines have been seen in cloths and clothing, and miscellaneous commodities. Farm products, foods and chemicals and drugs were higher August, 1924, than a year before.