§ Mr. Redmond
To ask the Chancellor of the Exchequer what the change in inflation has been from July 1983 to date; and if he will make a statement.
§ Mr. Maples
The annual rate of inflation, as measured by the retail prices index, was 4.2 per cent. for the 12 months to July 1983 compared with 9.3 per cent. for December 1990. Over the period from July 1983 to December 1990 the index has increased by 52.3 per cent., an annual rate of increase of 5.8 per cent. on average.