HC Deb 07 June 1951 vol 488 cc142-3W
Mrs. Mann

asked the Chancellor of the Exchequer the estimated percentage increase of commodity prices in this country which is due to devaluation; and the percentage due to world stockpiling and rearmament programmes.

Mr. Gaitskell

It is not possible to give a precise estimate of this kind; moreover, other influences in addition to those mentioned by my hon. Friend have played a part. It may however interest my hon. Friend to compare recent price changes in the United States (where the devaluation of sterling if it had any effect at all, would have caused a fall rather than a rise in prices) with price changes in the United Kingdom. Figures are therefore given below showing price changes in the two countries between August, 1949, and June, 1950, and between June, 1950, and April, 1951.

PRICE CHANGES
— United States United Kingdom
Wholesale Retail Wholesale Retail
August, 1949 100 100 100 100
June, 1950 103 101 112 102
April, 1951 120 109(a) 139 109
(a) Figure relates to March.