§ Mr. Harry Greenway
To ask the Chancellor of the Exchequer what is the current estimate of annual change in levels of wages and salaries and of the retail prices index; and if he will make a statement.
§ Mr. Nelson
In December underlying average earnings growth was 4¾ per cent. This is estimated to be the lowest since 1967. In January headline RPI inflation was 1.7 per cent., also the lowest since 1967.