§ Mr. Marlowasked the Secretary of State for Employment whether he is satisfied with the construction of the retail price index.
§ Mr. Jim LesterYes. I am satisfied that the retail prices index as at present constructed fulfils the purpose for which it was designed. This is to provide a measure of the change from month to month in the prices of the goods and services bought by the general consumer. However, as regards some uses of the index, I have reservations about the emphasis that is sometimes placed on the index in claims on the country's resources when changes in world trade and other factors are affecting our prosperity. I should also like to see the constituent parts of the index given more attention and am examining ways of doing this.