§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer if he will give the velocity of circulation and260W the increases or decreases in (a) M3, (b) M4, (c) MO and (d) the rate of inflation for each year since 1975. [4331]
§ Mrs. Angela KnightThe velocity of circulation of the monetary aggregate is calculated as a ratio—GDP divided by the stock of the relevant monetary aggregate.
M3 is no longer compiled as a monetary aggregate. Stock and velocity of circulation figures for MO and M4 are shown in table 6.2 of the CSO monthly publication Economic Trends. Data on the RPI and the underlying rate of inflation—RPI excluding mortgage interest payments—are shown on table 3.1 in Economic Trends. Economic Trends is available from the House of Commons Library.