§ Mr. Grylls
asked the Chancellor of the Exchequer what is the rate of inflation for the year ended 20th September 1975 and what is the estimated rate for the year ending 30th September 1976.
§ Mr. Robert Sheldon
The retail prices index rose 26.0 per cent. in the year to September 1975. In the year to June 1976—the most recent figure available—the corresponding increase was 13.8 per36W cent. The recent White Paper "The Attack on Inflation: the Second Year" (Cmnd. 6507) indicates that it will now take us somewhat longer to achieve our target for reducing the year-on-year inflation rate, in large measure because of higher sterling import prices.