HC Deb 10 December 1965 vol 722 c182W
Mr. Ridley

asked the Chancellor of the Exchequer how much the £ sterling has depreciated in value since 1st July, 1960.

Mr. MacDermot

Taking the purchasing power of the £ sterling as 20s. in July, 1960, its value in October, 1965, the latest date available, was 17s. 1d. This estimate is based on the change in the consumer price index between 1960 and 1964, with an adjustment based on the movement in the index of retail prices for the months at the beginning and end of the period.