£ Sterling (Internal Purchasing Power)

HC Deb 20 December 1968 vol 775 cc485-6W

Mr. Kenneth Baker

asked the Chancellor of the Exchequer, by how much the internal purchasing power of the £ sterling taken as 20s. in October, 1964, has fallen by October, 1968.

Mr. Harold Lever

Taking the internal purchasing power of the £ sterling as 20s. in October, 1964, its value in October, 1968, is estimated at 17s. 2d.

This estimate is based on changes in the Consumer Price Index for calendar years adjusted by movements in the Retail Price Index for the months at the beginning and end of the period.