TABLE 1.-AVERAGE RETAIL PRICE OF SPECIFIED FOOD ARTICLES AND PER CENT OF INCREASE OR DECREASE NOVEMBER 15, 1925, COMPARED WITH OCTOBER 15, 1925, AND NOVEMBER 15, 1924-Continued

Table 2 shows for the United States average retail prices of specified food articles on November 15, 1913, and on November 15 of each year from 1919 to 1925, together with percentage changes in November of each of these specified years, compared with November 1913. For example, the price per pound of potatoes was 1.8 cents in November, 1913; 3.9 cents in November, 1919; 3.3 cents in November, 1920; 3.2 cents in November, 1921; 2.1 cents in November, 1922; 2.6 cents in November, 1923; 2.2 cents in November, 1924; and 5.2 cents in November, 1925.

As compared with the average price in November, 1913, these figures show the following percentage increases: 117 per cent in November, 1919; 83 per cent in November, 1920; 78 per cent in November, 1921; 17 per cent in November, 1922; 44 per cent in November, 1923; 22 per cent in November, 1924; and 189 per cent in November, 1925.

The cost of the various articles of food combined showed an increase of 59.3 per cent in November, 1925, as compared with November,

1913.

TABLE 2.-AVERAGE RETAIL PRICES OF SPECIFIED FOOD ARTICLES AND PER CENT OF INCREASE OR DECREASE NOVEMBER 15 OF CERTAIN SPECIFIED YEARS COMPARED WITH NOVEMBER 15, 1913

[Percentage changes of five-tenths of 1 per cent and over are given in whole numbers]

Average retail price on Nov. 15

Article

Unit

Per cent of increase Nov. 15 of each specified year compared with Nov. 15, 1913

1913 1919 1920 1921 1922 1923 1924 1925 1919 1920 1921 1922 1923 1924 1925

1 Both pink and red. 215-16 ounce can. 3 8-ounce package. 428-ounce package. No. 2 can. Beginning with January, 1921, index numbers showing the trend in the retail cost of food have been composed of the articles shown in Tables 1 and 2, weighted according to the consumption of the average family. From January, 1913, to December, 1920, the index numbers included the following articles: Sirloin steak, round steak, rib roast, chuck roast, plate beef, pork chops, bacon, ham, lard, hens, flour, corn meal, eggs, butter, milk, bread, potatoes, sugar, cheese, rice, coffee, and tea.

Table 3 shows the changes in the retail prices of each of 22 articles of food for which prices have been secured since 1913, as well as the changes in the amounts of these articles that could be purchased for $1 in each year, 1913 to 1924, and in November, 1925.

TABLE 3.-AVERAGE RETAIL PRICES OF SPECIFIED ARTICLES OF FOOD AND AMOUNT PURCHASABLE FOR $1 IN EACH YEAR, 1913 TO 1924, AND IN NOVEMBER, 1925

Index Numbers of Retail Prices of Food in the United States

IN TABLE 4 index numbers are given which show the changes in the retail prices of specified food articles, by years, from 1907 to 1924, and by months for 1924, and for January through November, 1925. These index numbers, or relative prices, are based on the year 1913 as 100 and are computed by dividing the average price of each commodity for each month and each year by the average price of that commodity for 1913. These figures must be used with caution. For example, the relative price of rib roast for the year 1923 was 143.4, which means that the average money price for the year 1923 was 43.4 per cent higher than the average money price for the year 1913. The relative price of rib roast for the year 1922 was 139.4, which figures show an increase of 4 points but an increase. of slightly less than 3 per cent in the year.

In the last column of Table 4 are given index numbers showing the changes in the retail cost of all articles of food combined. From January, 1913, to December, 1920, 22 articles have been included in the index, and beginning with January, 1921, 43 articles have been used. For an explanation of the method used in making the link between the cost of the market basket of 22 articles, weighted according to the average family consumption in 1901, and the cost of the market basket based on 43 articles and weighted according to the consumption in 1918, see MONTHLY LABOR REVIEW for March, 1921 (p. 25).

The curve shown in the chart on page 76 pictures more readily to the eye the changes in the cost of the food budget than do the index numbers given in the table. The chart has been drawn on the logarithmic scale, because the percentages of increase or decrease are more accurately shown than on the arithmetic scale.

2 For index numbers of each month, January, 1913, to December, 1920, see MONTHLY LABOR REVIEW for February, 1921, pp. 19-21; for each month of 1921 and 1922 see MONTHLY LABOR REVIEW for February, 1923, p. 69; and for each month of 1923 and 1924 see MONTHLY LABOR REVIEW for February, 1925, p. 21.