£ Sterling (Purchasing Power)

HC Deb 20 February 1959 vol 600 c98W

Mr. Cronin

asked the Chancellor of the Exchequer by how much the internal purchasing power of the £ sterling has decreased since the 1955 increase in retirement pensions.

Mr. Erroll

Since April, 1955, the internal purchasing power of the £ sterling calculated from the Index of Retail Prices has fallen by 2s. 8d. or a little more than 13 per cent.