Title: War Economy

Author: Baker, J. V. T.

Publication details: Historical Publications Branch, 1965, Wellington

Part of: The Official History of New Zealand in the Second World War 1939–1945

This text is the subject of: ‘Something of Them Is Here Recorded’: Official History in New Zealand

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The Index Remains Stable

For the remainder of the war and for a year or two after the war, the policy of stabilising the price structure, as far as the essential goods and services included in the index were concerned, was pursued very rigidly. As a result it was not until 1947 that the index moved more than 1 per cent above its December 1942 level.¹

The index had a base equal to 1000 in December 1942. The 2 ½ per cent tolerance before wage increases were permitted would have raised it to 1025. Compared with this, its actual wartime movements were:

1942	December	1000
1943	March	1011
	June	1000
	September	996
	December	1001
1944	March	1005
	June	1001
	September	1003
	December	1004
1945	March	1006
	June	1005
	September	1001