§ 32. Mr. Baird
asked the Chancellor of the Exchequer what was the value of the £ sterling in 1938, 1941, 1951, and 1962 as compared with 1914.
§ Mr. Barber
Taking the £ sterling as 20s. 0d. in 1914, the value was 12s. 10d. in 1938, 9s. 2d. in 1941, 5s. 9d. in 1951 and 4s. 2d. in September 1962. These figures are based on changes in the consumer price index and, for the period up to 1938, the cost of living index.