Food Prices and Expenditure

HC Deb 13 November 1958 vol 595 cc556-7

33 Mr. Sparks

asked the Chancellor of the Exchequer (1) what percentage and amount of consumers' expenditure upon food is attributable to rising prices for each year from 1951 to the nearest convenient date in 1958;

(2) by how much, in percentage and amount, import prices have fallen in each year since 1951 to the nearest convenient date in 1958; and

(3) the internal purchasing power of the £ sterling for each year since 1951, taking the value of the £ sterling as 20s. in October, 1951, to the nearest convenient date in 1958.

Mr. Erroll

As the Answer is long and contains tables of figures, I will, with permission, circulate it in the OFFICIAL REPORT.

Mr. Sparks

Can the hon. Gentleman say why food prices have risen so steeply and why the internal purchasing power of the £ has fallen so heavily in recent years?

Mr. Erroll

I would ask the hon. Member to study the tables of figures first, particularly as there will be a further opportunity of questioning me next Thursday, when the Treasury will be at the top of the list.

Following is the Answer: