HC Deb 14 February 1957 vol 564 c199W
4. Mr. Lewis

asked the Chancellor of the Exchequer if he will publish in HANSARD a table of figures showing the monthly rise and fall in the internal purchasing value of the £ sterling since October, 1951, until the latest convenient stated date; and what is the reason for

PURCHASING POWER OF THE £ STERLING BASED ON OCTOBER, 1951 = 20s.
— 1951 1952 1953 1954 1955 1956
s. d. s. d. s. d. s. d. s. d. s. d.
January … — 19 5 18 7 18 4 17 8 16 10
February … — 19 5 18 7 18 5 17 8 16 10
March … — 19 4 18 5 18 3 17 8 16 7
April … — 19 0 18 3 18 2 17 7 16 4
May … — 19 0 18 4 18 3 17 7 16 5
June … — 18 8 18 3 18 1 17 3 16 5
July … — 18 9 18 3 17 10 17 2 16 6
August … — 18 10 18 4 17 11 17 3 16 5
September … — 18 10 18 5 18 0 17 2 16 5
October … 20 0 18 8 18 5 17 11 17 0 16 4
November … 19 11 18 9 18 4 17 10 16 9 16 3
December … 19 9 18 7 18 5 17 8 16 9 16 3
NOTE: The usual method of computing changes in the internal purchasing power of the £ is to base the calculation on the consumer price index compiled annually by the Central Statistical Office in connection with estimates of national income and expenditure. The monthly index of retail prices compiled by the Ministry of Labour, is used to adjust the calculation to a particular month. This method cannot be used to provide a continuous series of monthly figures. The figures above are therefore based wholly on the Index of Retail Prices compiled by the Ministry of Labour.

Mr. Lewis

asked the Chancellor of the Exchequer to give the purchasing value of the £ sterling, after allowing for the depreciation as compared with 20s. in 1945, on the following dates, 30th September, 1946, 1st October, 1951, 2nd October, 1952, and 25th April, 1955; and at the latest convenient stated date.

Mr. Birch

The purchasing power of the £ sterling, taken as 20s. in 1945, is estimated at 20s. in September, 1946, 15s. 6d. in October, 1951, 14s. 6d. in October, 1952, 13s. 7d. in April, 1955, and 12s. 7d. in December, 1956, the latest available date. This is based on the Cost of Living and Retail Price Indices, in accordance with the reply given to the hon. Member on 6th February, 1957.