§ 72. Mr. Lewisasked the Chancellor of the Exchequer whether he will publish in HANSARD a table of figures showing the monthly internal purchasing value of the £ sterling since October, 1951, until the latest convenient stated date, taking the £ as having a purchasing value of 20s. in October, 1951, and using as the basis the retail price index.
§ 84. Mr. de Freitasasked the Chancellor of the Exchequer whether he is aware that, taking the internal purchas-
PURCHASING POWER OF THE £ STERLING BASED ON OCTOBER, 1951 = 20s. 1951 1952 1953 1954 1955 1956 1957 s. d. s. d. s. d. s. d. s. d. s. d. s. d. January … 19 5 18 7 18 4 17 8 16 10 16 1 February … 19 5 18 7 18 5 17 8 16 10 16 1 March … 19 4 18 5 18 5 17 8 16 7 16 2 April … 19 0 18 3 18 2 17 7 16 4 16 1 May … 19 0 18 4 18 3 17 7 16 5 16 1 June … 18 8 18 3 18 1 17 3 16 5 15 11 July … 18 9 18 3 17 10 17 2 16 6 15 9 August … 18 10 18 4 17 11 17 3 16 5 15 9 September … 18 10 18 5 18 0 17 2 16 5 15 10 October … 20 0 18 8 18 5 17 11 17 0 16 4 November … 19 11 18 9 18 4 17 10 16 9 16 3 December … 19 9 18 7 18 5 17 8 16 9 16 3 The above figures are based wholly on the index of retail prices, compiled by the Ministry of Labour.
The usual method of computing changes in the internal purchasing power of the £ is to base the calculations on the consumer price index compiled annually by the Central Statistical Office in connection with estimates of national income and expenditure. On the basis the purchasing power of the £ since 1946 has been:—
Based on 1946=20s. Based on 1951=20s. s. d. s. d. 1946 … 20 0 1947 … 18 8 1948 … 17 4 1949 … 16 11 1950 … 16 5 1951 … 15 2 20 0 1952 … 14 4 18 11 1953 … 14 0 18 6 1954 … 13 9 18 2 1955 … 13 4 17 7 1956 … 12 9 16 10 1957 (Jan.—Sept. provisional estimate) … 12 4 16 4