§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will circulate in the Official Report a table showing for each quarter since 1970 the percentage increase in the money supply and the percentage increase in retail prices two years later.
§ Mr. LawsonThe figures are as follows:624W
Quarter Percentage increase in money supply* Percentage increase in index of retail prices two years later† 1968—1st -1.6 1.9 2nd 3.4 2.5 3rd 1.0 1.1 4th 4.0 2.0 1969—1st -2.0 2.7 2nd -0.8 3.7 3rd 1.0 1.3 4th 4.3 1.2 1970—1st -2.6 1.6 2nd 4.3 1.8 3rd 2.3 1.7 4th 5.4 2.3 1971—1st 0.2 1.8 2nd 2.6 3.1 3rd 2.5 1.6 4th 8.1 3.4 1972—1st 1.8 4.0 2nd 7.5 6.0 3rd 4.3 2.5 4th 8.7 4.5 1973—1st 2.7 6.0 2nd 6.0 9.5 3rd 7.6 4.3 4th 7.9 3.5 1974—1st 0.4 3.6 2nd 1.7 3.6 3rd 1.7 2.3 4th 6.1 4.6 1975—1st -1.1 5.0 2nd 2.7 4.4 3rd 2.8 1.6 4th 2.1 1.5 1976—1st -0.7 1.7 2nd 3.7 2.8 3rd 3.9 1.7 4th 2.3 1.7 1977—1st -2.5 3.1 2nd 4.2 3.7 3rd 2.6 6.7‡ * Sterling M3—end quarters, not seasonally adjusted. † General index of retail prices—all items (quarterly average of monthly indices), not seasonally adjusted. ‡ Percentage increase in third quarter 1979, the latest available.