Show i Food Prices rites 1 t Increase Increases Is s Slower ver The rate of increase of the price of food has shown some significant declines in recent months according to Lawrence Lawrence Lawrence Law Law- rence W. W Alder Executive Director of the Utah Retail Grocers Association MR ALDER quoted U.S. U.S. U.S. U. U S. S Department of Agriculture ture statistics for the fourth quarter of 1970 wl which ch showed showed showed show show- ed the increase was two and one half percent above the comparable 1969 quarter quarter quarter ter compared with seven and one half percent in the first quarter of 1970 Best official estimates are that the increase for forthe forthe forthe the first half of 1971 will willbe willbe willbe be d down wn to about one percent percent percent per per- cent Mr Alder said HE ADDED that the rise of food prices during the past ten years has been substantially substantially substantially sub sub- less than the cost of other consumer goods The retail cost of food during during during dur dur- ing the second quarter of 1970 was Vas 25 percent above the 59 1957 average while the over-all over Consumer Price Index was up 34 percent Mr Alder pointed out that in the year ten-year period of 1959 to 1969 family income rose at twice the rate of food prices The percentage of the fam family ly income spent on food actually declined to percent in 1969 from percent in 1959 he said IN UIN THE light of these official government statistics statistics statistics statis statis- tics Mr Alder observed food costs have held the theline theline theline line against inflation better than most any other type of goods or service |