Cost of Living

HC Deb 25 March 1958 vol 585 c214

28. Sir W. Anstruther-Gray

asked the Chancellor of the Exchequer how far recent figures show that the rise in the cost of living is being checked.

Mr. Amory

The Index of Retail Prices in February was one point above the figure for July, 1957, and it has remained virtually stationary for the last four months.

Mr. Jay

Can the Chancellor explain why it is that, although import prices have fallen by more than 10 per cent. in the last twelve months, retail prices are still higher than they were twelve months ago?

Mr. Amory

So far as that is correct, it is due to the fact that we have not yet fully overcome internal inflation.