§ Sir W. Smithersasked the Chancellor of the Exchequer the purchasing power of the £ sterling for each of the years 1900 to date, taking 1900 as twenty shillings.
§ Sir S. CrippsOn a cost-of-living basis, with 1900 as 100, the purchasing power of the pound was:—
1900 100 1924 52 1901 100½ 1925 52 1902 100½ 1926 53 1903 100 1927 54 1904 100 1928 55 1905 99 1929 56 1906 99½ 1930 58 1907 97 1931 62 1908 95 1932 63 1909 95 1933 65 1910 94½ 1934 65 1911 94 1935 64 1912 91 1936 62 1913 90 1937 59 July 1914 91 1938 58 1915 74 1939 58 1916 62 1940 49 1917 52 1941 46 1918 45 1942 46 1919 42 1943 46 1920 37 1944 45 1921 40 1945 45 1922 50 1946 45 1923 52 June 17th 1947 45 The figures for the period 1900 to 1913 are less accurate than those for later years, since the coverage of items in the index used was less complete. From 1914, the official Cost-of-Living Index has been used. 1946 is the latest year for which an annual figure can be given. An index calculated over the whole field of consumers' expenditure has been computed for each year since 1938. Had such an index stood at 58 in 1938, it would show a fall to approximately 39 in 1946. It would be misleading to give the answers in terms of shillings, since the calculations employed do not achieve so great a degree of accuracy.