HC Deb 17 March 1959 vol 602 cc15-6W
3. Mr. Lewis

asked the Chancellor of the Exchequer whether he will publish in HANSARD the latest purchasing value of the £ sterling, on the basis of the £ having a purchasing value of 20s. in 1925, and after allowing for various officially recorded rises and falls in the cost of living.

Mr. Erroll

The internal purchasing power of the £ sterling taken as 20s. in 1925 was 7s. 11d. in February, 1959. This estimate is based on changes in the consumer price index since 1938, corrected for monthly changes by the index of retail prices, and before that date on movements in the cost of living index.