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COMPARISON OF THE AVERAGE PRICE FOR EACH MONTH OF 1910 WITH AVERAGE

PRICE FOR THE YEAR, AND OF AVERAGE PRICE FOR DECEMBER, 1910, WITH THE AVERAGE PRICE FOR EACH PRECEDING MONTH OF THE YEAR, BY GROUPS OF COMMODITIES-Concluded.

Drugs and chemicals.

House-furnishing

goods.

Miscellaneous.

All commodities.

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In March, 1910, the wholesale prices of farm products were 10 per cent above the average price for the year, this being the highest point of the year. The lowest monthly price of the year was December, being 16.9 per cent below the price for March. The movement in prices during the year for each of the articles in this and other groups will be found in Table II, pages 412 to 464, or the full details of the prices throughout the year may be found in Table I, pages 362 to 411.

Food commodities were at their highest price in March and at their lowest in June, when they were 1.5 per cent below the average price for the year. In December they were 1.7 per cent higher than in June.

The price of cloths and clothing was above the average price for the year during the first five months and below the average for the other seven months. From January to August each month showed a recession from the price for the previous month. From September to December prices advanced each month over the prices for the month before. The January price was 2.6 per cent above the average price for the year and the December price was 3.2 per cent lower than the price in January.

The price of the fuel and lighting group was above the average price for the year from January to March, the same price in April, and below the average from May to December. The highest price was in January, when the price was 4.5 per cent above the average for the year. In December the price was 1.2 per cent above the average price for October, the month of lowest prices, and 5.6 per cent lower than the price for January.

The price of the metals and implements group was at the highest point of the year in April, when the price was 2.3 per cent above the average price for the year; from that time to August the price declined each month. The month of lowest price was December, when the average price was 3.6 per cent below that for April.

The price of lumber and building materials in the month of January was 2.5 per cent below the average price for the year. There was a material advance from January to November, when the average price was 2.2 per cent above the average price for the year. The price in December was 2.1 per cent above the average for the year and 4.8 per cent higher than the price for January.

Drugs and chemicals as a group were at their lowest price for the year in April and August, being 0.7 per cent below the average price for the year. In December the price was 1.5 per cent above the average for the year and higher than the price for any other month

of the year.

House-furnishing goods were below the average price for the year during the first three months of the year, above the average for the next eight months, and the same as the yearly average for the last month of the year. The lowest price for this group was in January, when the price was 2.2 per cent below the average price for the year. The price for December was 2.3 per cent higher than in January.

The price of miscellaneous articles was below the average price for the year during the first three and last three months and above the average price from April to September. The price in December was 2.9 per cent below the average price for the year and 5.6 per cent lower than in May, the month of highest prices.

A few of the articles showing the most marked variation in price within the year 1910 are here noted. Plain to choice wethers declined from an average of $8.2750 in March to $3.6813 in November, this being a decline of 55.5 per cent. Heavy hogs declined 28.7 per cent from March to November; corn, 26.4 per cent from January to December; d'essed mutton, 50.2 per cent from April to November; corn meal, 31.9 per cent from February to December; mess pork, 27.7 per cent from March to November; short-rib bacon, 26.4 per cent from March to December; smoked hams, 25.1 per cent from July to December; lard 25.4 per cent from March to December; dressed poultry, 24.2 per cent from April to December; Elgin creamery butter, 19.7 per cent from January to June; Bessemer pig iron, 20.6 per cent from January to November; rubber, 54.2 per cent from April to November; cottonseed oil, 34.5 per cent from September to December

Of the increases in prices within the year 1910 the most noticeable are as follows: Flaxseed advanced 28.9 per cent from January to November; potatoes, 302.4 per cent from June to August; eggs, 90.2 per cent from May to December; coffee, 61.1 per cent from June to . December; mess beef, 35.2 per cent from January to October; rosin, 52.4 per cent from January to October; turpentine, 36.7 per cent from January to November; linseed oil, 25 per cent from January to November.

The following table shows, for both raw and manufactured commodities, according to the classification already explained, the per cent that prices in each month in 1910 were above or below the average prices of the year, and the per cent of increase in Decer

cent of increase in December above each preceding month of the year:

COMPARISON OF THE AVERAGE PRICES OF RAW AND MANUFACTURED COMMODITIES FOR EACH MONTII OF 1910 WITH THE AVERAGE PRICES FOR THE YEAR, AND OF THE AVERAGE PRICES FOR DECEMBER, 1910, WITH THE AVERAGE PRICES FOR EACH PRECEDING MONTH OF THE YEAR.

Raw commodities.

Manufactured commodities.

All commodities.

Month.

Per cent of price Per cent of
Per cent of price Per cent of

Per cent of price Per cent of for month.

increase
for month. increase

for month. increase
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From this table it is seen that there was a greater fluctuation in the prices of raw commodities during the year than in the prices of manufactured commodities. In January, February, and March the price of raw commodities was 3.7 per cent above the average price for the year, while in November the price was 3.3 per cent below the average price for the year. In manufactured commodities the highest prices were in March, when the average was 1.1 per cent above the average

price for the year, while in July, November, and December the averago was 0.6 per cent below the average price for the year. Thus, January, Febrúary, and March marked the highest prices in raw commodities, and March marked the highest prices in manufactured commodities; while prices of raw commodities were the lowest in November, manufactured commodities showed lowest prices during July, November, and December. The average prices of raw commodities in December was 5.8 per cent lower than in January, February, and March. The December prices of manufactured commodities were 1.7 per cent lower than those prevailing in March. PRICES OF COMMODITIES, 1910, AND DECEMBER, 1910, COMPARED

WITH PREVIOUS YEARS BACK TO 1890,

Thus far attention has been directed to the changes that took place in wholesale prices in the year 1910 as compared with 1909 and the movement of wholesale prices month by month during the year 1910. Attention is now directed to the course of wholesale prices from year to year since 1890. The following table shows, by relative prices, the changes in the average wholesale prices of the articles for which prices were secured by years from 1890 to 1910, inclusive, and by months from January to December, 1910. The relative price used in this table is simply a percentage. The base on which the relative price is computed is not the price in any one year, but the average price for ten years, from 1890 to 1899, inclusive. The reason for adopting this base is fully explained on pages 347 and 348. Relative prices, such as are here shown, are also sometimes spoken of as relative numbers or as index numbers. For explanation of the method used in computing the relative price of all commodities, see pages 347 and 348.

To assist in comparing the average wholesale prices for the year 1910 and for December, 1910, with the prices back to 1890, two columns are given in the table, one showing the per cent of the increase in prices for 1910 over the prices for each of the preceding years, and the other showing the per cent of the increase (or decrease) in prices in December, 1910, as compared with the prices for the preceding years and months.

RELATIVE PRICES OF COMMODITIES, BY YEARS, 1890 TO 1910, AND BY MONTHS, JAN. UARY TO DECEMBER, 1910, AND PER CENT OF INCREASE IN PRICES FOR 1910 OVER EACI PRECEDING YEAR, AND FOR DECEMBER, 1910, OVER EACH PRECEDING MONTH OR YEAR.

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The relative wholesale prices during the years 1890 to 1910 set forth in tabular form in the preceding table, are shown also in the graphic table which follows.

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