HC Deb 05 May 1971 vol 816 cc399-400W
Mr. Kaufman

asked the Chancellor of the Exchequer taking the £ sterling as 100p on 17th November, 1967, what was its purchasing power on 18th June, 1970, and what is its purchasing power today.

Mr. Higgins

Taking the purchasing power of the £ sterling to be 100p in November, 1967, its purchasing power in June, 1970, and March, 1971, the latest date for which information is available, is estimated at 87p and 82p respectively.

These comparisons are based on the movement in the Consumer Price Index from 1967 to 1970 adjusted by the movement in the General Index of Retail Prices to obtain estimates for individual months.