§ Mr. Lewisasked the President of the Board of Trade whether he is aware that the index figure of raw materials fell last month by 1.4 per cent. 39W and that this is the eighth consecutive month when this index has shown a reduction; and what statistical evidence his Department has to show the time-lag necessary before reductions in the price of raw materials are passed on to the general public by low prices of manufactured goods.
§ Sir D. EcclesYes. The time-lag between the purchase of raw materials and the sale of products made from them varies widely from case to case. The price of raw materials is only one of many factors affecting the price of the product and, therefore, I do not have the statistical evidence asked for.