§ Sir F. Medlicottasked the Chancellor of the Exchequer what is the present internal purchasing value of the £ sterling, as compared with October, 1945 and 1951.
Mr. AmoryCompared with 20s. in 1945, the internal purchasing value in October, 1951, was 14s. 2d. and in March, 1958, 11s. 9d.; compared with 20s. in October. 1951, the comparable figure for March, 1958, is 16s. 6d. These estimates are based on the consumer price index, brought up to date by the use of the retail price index. I regret that it is not possible to provide a comparison for any particular month in 1945.