§ 70. Mr. Lewisasked the Chancellor of the Exchequer whether, using April, 1945, as being equal to 20s., he will publish a table of figures giving the monthly rise or fall in the purchasing value and purchasing power of the £ sterling, respectively, until the latest convenient stated date.
§ Mr. ErrollI will circulate figures of monthly changes since June, 1947, in the OFFICIAL REPORT. It is not possible to 97W provide comparable monthly figures before then. As I explained in reply to the hon. Member for Acton (Mr. Sparks)
PURCHASING POWER OF THE £ (JUNE, 1947 = 20s.) — 1947 1948 1949 1950 1951 1952 s. d. s. d. s. d. s. d. s. d. s. d. January … — 19 2 18 4 17 9 17 1 15 1 February … — 18 10 18 4 17 8 16 11 15 1 March … … — 18 10 18 4 17 7 16 9 15 0 April … … — 18 6 18 5 17 7 16 6 14 9 May … … — 18 7 18 1 17 6 16 1 14 9 June … … 20 0 18 3 18 0 17 7 16 1 14 6 July … … 19 10 18 6 18 0 17 7 15 10 14 7 August … … 20 0 18 6 18 0 17 8 15 9 14 8 September … 19 11 18 6 17 11 17 7 15 8 14 8 October … 19 9 18 5 17 10 17 5 15 6 14 6 November … 19 4 18 5 17 10 17 4 15 6 14 7 December … 19 3 18 5 17 9 17 3 15 4 14 5
— 1953 1954 1955 1956 1957 1958 1959 s. d. s. d. s. d. s. d. s. d. s. d. s. d. January … … 14 6 14 3 13 8 13 0 12 6 12 1 11 0 February … … 14 5 14 4 13 8 13 0 12 6 12 1 11 10 March … … 14 4 14 2 13 8 12 10 12 6 12 0 11 10 April … … 14 2 14 1 13 7 12 8 12 6 11 11 11 11 May … … 14 3 14 2 13 8 12 9 12 6 11 11 11 11 June … … 14 2 14 1 13 4 12 9 12 4 11 10 11 11 July … … 14 2 13 10 13 4 12 9 12 3 12 0 — August … … 14 3 13 11 13 5 12 9 12 3 12 0 — September … 14 3 13 11 13 4 12 9 12 3 12 0 — October … … 14 3 13 11 13 2 12 8 12 2 11 11 — November … 14 3 13 10 13 0 12 8 12 1 11 11 — December … 14 4 13 9 13 0 12 7 12 1 11 10 — The figures relate to dates near the middle of the month.
This table has been compiled from the interim index of retail prices for the period June, 1947 to January, 1956 and from the index of retail prices thereafter.
§ 73. Mr. Sparksasked the Chancellor of the Exchequer if he will state in table form the internal purchasing value of the £ sterling, as based upon and in the terms of the Interim Index of Retail Prices, taking October, 1951, as 20s., and for October in each subsequent year and at the nearest convenient date.
§ Mr. ErrollFollowing is the information:
Internal Purchasing Power of the Pound Sterling
On the basis of the Index of Retail Prices, the internal purchasing power of the £ sterling for October of each of the years 1951 to 1958, inclusive, was:
s. d. 1951 20 0 1952 18 8 1953 18 5 1954 17 11 1955 17 0 1956 16 4 1957 15 8 1958 15 4 On the same basis, in June, 1959, the purchasing power of the £ was 15s. 4d.
98Won 16th July, purchasing power and purchasing value are, in this context, synonymous.