§ 82. Mr. Stokesasked the Chancellor of the Exchequer the figures which prove that in the past nine or ten years higher import prices accounted for about one-fifth of the rise in prices.
§ Mr. H. MacmillanThe estimate relates to the period 1946 to 1954 and is 187W based on a comparison of the statistics of output and imports, both at current and constant prices, given in Tables 1, 7 and 12 of "National Income and Expenditure, 1955". The estimate is no more
— £ million 1946 1954 Change 1946 to 1954 1. Value of final output of goods and services: (a) At current market prices … … 11,571 21,166 9,595 (b) At 1948 market prices … … 13,285 16,525 3,240 (c) Effect of price changes (1a less 1b) … … — — 6,355 2. Value of imports of goods and services: (a) At current prices … … 1,668 3,602 1,934 (b) At 1948 prices … … 2,070 2,735 665 (c) Effect of price changes (2a less 2b) … … — — 1,269 3. Percentage contribution of higher import prices to higher final output prices (2c as per cent. of 1c) — — 20 per cent. Note.—The figures showing the effect of "price changes" show the combined effects both of changes in individual prices and of changes in composition of output and imports.