HC Deb 04 March 1953 vol 512 cc46-7W
Mr. Lewis

asked the Chancellor of the Exchequer to publish in HANSARD a table showing the rise and fall in the purchasing value of the £ for each month from October, 1951, to the latest convenient stated date.

Mr. Maudling

The figures are as follows:

1951 s. d.
October … … … 20 0
November … … … 19 11
December … … … 19 9
1952
January … … … 19 5
February … … … 19 5
March … … … 19 4
April … … … 19 0
May … … … 19 0
June … … … 18 8
July … … … 18 9
August … … … 18 10
September … … … 18 10
October … … … 18 8
November … … … 18 9
December … … … 18 7
1953
January … … … 18 7

These figures are based on the Ministry of Labour's Interim Index of Retail Prices.

Mr. Lewis

asked the Chancellor of the Exchequer to state the purchasing value of the £ immediately prior to the outbreak of the Korean war and at the latest convenient stated date.

Mr. Maudling

Taking the figure for June, 1950, as 20s. the corresponding figure for January, 1953, is 16s. 7d.

The basis of this calculation is as follows:

  1. (a) between 1950 and 1951 the price index for all consumer goods and services, calculated annually for national income purposes, is used;
  2. (b) since 1951 this index is provisionally brought up to date by using the Ministry of Labour's Interim Index of Retail Prices.