Commodity Prices Fall

Ever since Dec. 1, 1923, according to Bradstreet's index, prices for commodities have been falling. Starting with 146.0 on that date, the index fell to 143.8 on Jan. 1, 1924; to 143.3 on Feb. 1; and to 139.9 on March 1. The figure of 137.1 for April 1 shows that the downward movement has continued.

During March, breadstuffs fell from 120 to 116, provisions from 135 to 132, fruits from 118 to 116, hides and leather from 101 to 99, textiles from 156 to 154, metals from 126 to 118, coal and coke from 192 to 184, naval stores from 217 to 214, miscellaneous from 175 to 168. Groups which showed advances were: Livestock from 102 to 103, oils from 149 to 154, building materials from 178 to 179. Chemicals and drugs remained unchanged at 189.

Bradstreet indexes are computed by taking 1913 average prices as 100. The existing degree of inflation or deflation compared in the pre-War prices is thus readily shown. On April 1, only hides and leather were cheaper than in the year before the War.