§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what has been the weighted average increase in the price of goods in the retail price of non-food goods since August 1992; and how much of the increase has been due to the fall in the exchange rate.
§ Mr. NelsonThe information requested is not available as there is no single definition of goods in the retail prices index.
§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what estimate he made in December 1992 of the effect of the fall in the exchange rate on retail prices after(a) one and (b) two years.
§ Mr. NelsonThe Government published an assessment of economic prospects, including the outlook for retail prices, in the November 1992 Autumn Statement. The depreciation of sterling that followed the suspension of the United Kingdom's membership of the exchange rate mechanism was one of the many factors taken into account in this forecast.