HC Deb 08 February 1955 vol 536 cc193-4W
77. Mr. Woodburn

asked the Chancellor of the Exchequer the relative changes in index prices of imports and retail prices, respectively, in each year following the war to the latest available date.

Mr. R. A. Butler

The following index of average values of United Kingdom imports gives a rough measure of price changes from year to year:

1945 … … … … 59
1946 … … … … 63
1947 … … … … 77
1948 … … … … 86
1949 … … … … 87
1950 … … … … 100
1951 … … … … 133
1952 … … … … 129
1953 … … … … 114
1954 … … … … 114

This index is obtained by comparing the actual value of trade in each year with its estimated value at prices of a base year. Changes from year to year are therefore affected by changes in the composition of trade as well as by changes in prices, so that the index gives only an approximate measure of changes in average prices. Index numbers originally published with 1938, 1947 and 1950 as years of reference are here shown in a linked series with 1950 = 100.

The index of prices of all consumer goods and services compiled for each calendar year by the Central Statistical Office for use in connection with the estimates of national income and expenditure, has moved as follows:

1945 … … … … 100
1946 … … … … 103
1947 … … … … 110
1948 … … … … 118
1949 … … … … 121
1950 … … … … 125
1951 … … … … 136
1952 … … … … 144
1953 … … … … 147
1954 … … … … 150

The figure for 1954 is estimated by reference to the Interim Index of Retail Prices compiled by the Ministry of Labour and relating to goods and services bought by households of wage earners and others with relatively small incomes.