HC Deb 20 December 1955 vol 547 c290W
Mr. Osborne

asked the Chancellor of the Exchequer approximately how much of the inflation since 1945 is due to higher prices for imported food and raw materials, and how much to domestic causes.

Mr. R. A. Butler

It is estimated that higher prices paid for imported food and raw materials and manufactures and services obtained from abroad accounted for about a fifth of the rise in prices of goods and services produced for consumption, investment or export between 1946 and 1954. Other causes accounted for four-fifths of the increase.