§ Mr. Osborneasked the President of the Board of Trade what is the average price of exports and imports 101W separately as compared with 1938 and taking that year's figures at 100; and if he can estimate the extent to which the figures for the first quarter of 1951 are likely to show a further rise.
§ Mr. BottomleyOnly a very rough estimate can be made of the level of United Kingdom import and export prices compared with 1938. Taking 1938 as 100, prices of our exports in 1950 were, on the average, between 260 and 270 and prices of our imports were between 340 and 350. By December, export prices, as measured by the Board of Trade index, were about 5½ per cent. above the average for 1950 as a whole and import prices were 11½ per cent. above the year's average. We are not in a position to forecast what further increases the index numbers will show in the first three months of this year.