Abstract: The meter is provided with a housing defining a metering chamber and with a metering member rotatably supported in the chamber. A first rotary element is drivingly connected to the metering member to be rotatable about a rotational axis. The meter is also provided with an indicator mechanism supported on the housing and provided with a second rotary element rotatable about the rotational axis of the first element and separated therefrom by a wall of substantially non-magnetizable material. Each rotary element is provided with two permanent magnets disposed symmetrically with respect to the rotational axis and having their respective axes of magnetization extending parallel to the rotational axis but being oppositely directed. Each permanent magnet comprises a pair of similarly poled component permanent magnets having respective planar surfaces abutting against one another in a plane extending substantially parallel to the rotational axis of the rotary elements.