HC Deb 14 July 1964 vol 698 cc204-5W
Mr. A. Lewis

asked the Chancellor of the Exchequer, taking June, 1957, as equalling 100, and at that date the £ sterling having a purchasing value of 20s., what has been the percentage and monetary depreciation of the £ sterling to the latest convenient date.

Mr. Green

Taking the purchasing power of the £ sterling as 20s. in June, 1957, its value in May, 1964, was 17s. 3d., equivalent to a fall of just under 14 per cent. This estimate is based on movements in the consumer price index for calendar years, adjusted by movements in the index of retail prices for the months at the beginning and end of the period.