§ 78. Mr. G. Thomas
asked the Chancellor of the Exchequer the purchasing value of the £ sterling in October, 1951, and in October, 1952, compared with October, 1939.
§ Mr. R. A. Butler
A figure for October, 1939, is not available. But taking the average for 1939 as 20s., the figures for October, 1951, and October, 1952, are 9s. 7d. and 9s. respectively. The basis of calculation is as follows:
Between 1939 and 1951 (average for the year) the price index for all consumer goods and services, which is calculated annually for national income purposes, has been used.
Between 1951 (average for the year) and October, 1951, and between October, 1951, and October, 1952, the Ministry of Labour's interim index of retail prices has been used.