§ 59. Mr. Fletcher-Cookeasked the Minister of Labour to give figures to show in terms of a £1 of constant purchasing power, the rise or fall of average weekly wage rates in the two periods between June, 1947, and October, 1951, and October, 1951, and the latest convenient date, respectively.
§ Sir W. MoncktonBetween June, 1947, and October, 1951, the average level of weekly wage rates rose by 22 per cent., while the Index of Retail Prices rose by 29 per cent. Between October, 1951, and January, 1954, wage rates rose by 13 per cent, and retail prices by 9 per cent. On the basis of movements in these two indices it is estimated that in terms of constant purchasing power of the £, wage rates fell by about 5 per cent, during the first period and rose by 4 per cent, during the second period.