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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Office Correspondence To_ Mr. Thomas From. Clayton Gehman "Date Anna Pit Subject! Wholesale price indexes for June 19 • Last week f s indexes for wholesale prices are shown in the table below for groups. This week f s figures are likely to be about ij. points higher for farm products and 3 points higher for foods. There are also shown in the table figures for February 21 and percentage increases from that date to June 19 in case you want to substitute them for the monthly figures shown in the table sent to you yesterday. All Commodities Farm Products Foods Other Commodities Totaii Building Materials Index numbers, 1926 average • 100 1948Feb* 21 159*2 June 19 165*3 181.7 170.J Hi7«5 191.9 I8O.7 li+9*5 197*2 Percentage increase to June 19 from: Feb. 21 3.8 7.0 6.1 l.k AJfe. 2.8 CONSUMERS' PRICE INDEX All items Food Apparel Fuel Bent eleotrioity and ice House Miscellaneous furnishings Index ambers, 1935-39 average * 100 1939 99.1+ 95.2 100.5 10l*.3 99.0 101.3 100.7 191*5 128,1* 139.1 11*5.9 108. 3 110.3 11*5.8 12^.1 19^6 June 133.3 11*5.6 157.2 108. 5 110.5 156.1 127.9 153-3 I83.8 157.1 190.5 179.0 185.7 108.8 109.2 117.3 117.7 179.1 182.6 137.1 139.1 168.8 209.7 170.5 210.9 192.1 197.5 115.9 116.5 129.5 131.8 192.3 11*6.1* 11*7.5 191*7 Jan. June 191*8 Jan. May 193.6 Percentage :Lncreas<» to May 19^8 from 1939 71.5 121.5 96.5 11.7 33.1 91.1 1*6.5 191*5 32.8 51.6 35.1* 7.6 19.5 32.8 18.9 8.5 10.7 6.1* 6.7 12.0 6.0 6.0 1.0 .6 2.8 .5 1.8 .7 .8 191*7 June 191*8 Jan. INDDS TRIAL PROUJCTIOiM (adjusted for seasonal variation) Manufactures Selected industries Total Minerals* Durable Nondurable Crude Coal Steel Mach- Textile Petroleum inery Products Index numbers, 1935"39 average a 100 1939 109 109 109 106 108 100 115 104 112 1945 203 274 166 137 146 137 200 343 146 170 193 162 139 153 ll£ 167 189 221 219 176 168 146 148 146 159 162 206 140* 211 277 275 172 155 193 192 229 222 178 177 154 l60 165 173 152 224 152* 235 285 275 179 175 164 56 18 - 20 20 11 13 1946June 165 19i4.7Jaiu June 1948Jan. June Percentage increase to June 1948 from: 1939 76 104 62 51 60 52 1945 -5 - 19 7 17 18 11 4 1 5 8 9 9 1947June 104 0 Note*— Figures for June 1948 &re estimates. Declines shown for total, durable, and machinery since 19^4-5 reflect drop in munitions output. * Coal output curtailed somewhat by holiday period. GE06S NATIONAL PRODUCT (adjusted f o r seasonal v a r i a t i o n ) Private domestio investment Total Govfc. New Pro- 1 Total oonstruo- duoers tion equip. Change in inventories Consumptior 1 expenditures Net foreign Total Dur- Nonables dur- Services inve stables ment In billionss of dollars, annual rates 13.1 9.0 4.0 4.6 .1+ .9 67.5 6.7 35.3 25.5 213.1 83.1 9.1 3.1 7.1 -1.2 -.8 121.7 8.0 75.3 38.4 30.3 22.3 8.7 11.5 2.0 6.1 138.2 13.9 83.2 41.2 1947lst q. 221.0 27.6 28.3 2nd q. 226.9 23.2 26.1 10.3 9.6 16.1+ 17.9 -1.4 1.6 8.3 156.9 18.2 94.7 10.4 162.3 19.3 98.4 1+4.0 Ii4.6 1948lst q. 21+4.3 31.0 36.0 2nd q. 21+9.1 31.9 31+. 7 13.1 13.2 18.8 19.5 4.1 4.2 173.2 20.7 104.3 48.2 49.0 1939 19U5 90.4 19462nd q. 197.0 2.0 6.0 176.5 21.5 106.0 1939 176 ll+U Percentage increasei to 2nd quarter 1948 from: 286 230 400 200 161 221 324 567 191+5 17 -62 281 326 175 — — 45 169 hi 28 10 13 33 38 9 — -42 9 11 8 10 191+7- 2nd q. Note:---Department of Commerce data with Federal Reserve estimates for seoond quarter of I9L1&* 92
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