HC Deb 13 November 1958 vol 595 cc557-8

It is not possible, on the basis of the information available, to estimate precisely how much of the year-to-year change in consumers' expenditure on food is attributable to changes in prices. However, an approximate calculation, based on the figures of expenditure at current prices and on the index numbers of prices (average 1954=100) given in tables 26 and 29 respectively of the Blue Book "National Income and Expenditure 1958" is given below:

Estimated total expenditure Increase over previous year Increase over previous year attributable to price change
Amount Percentage of total expenditure in the year
£ million £ million £ million
1951 2,987 253 307 10.3
1952 3,282 295 325 9.9
1953 3,539 257 140 4.0
1954 3,807 268 141 3.7
1955 4,137 330 245 5.9
1956 4,392 255 172 2.9
1957 4,562 170 107 2.3
Because of seasonal variations in consumption, it is not possible to give comparable figures for the first half of 1958.
IMPORT PRICES
— Index 1951=100 Percentage reduction since 1951 Percentage change from previous year
1951 100
1952 98 2 -2
1953 89 11 -9
1954 88 12 -1
1955 91 9 +3
1956 93 7 +2
1957 95 5 +2
1958 (Jan-Sept.) 88 12 -7
PURCHASING POWER OF THE £
s. d. s. d.
October 1952–20 0 1955–18 3
1952–19 7 1956–17 5
1953–19 3 1957–16 11
1954–18 10 September 1958–16 7
These estimates are based on the consumer price index, adjusted for October, 1951, and September, 1958, by the index of retail prices.