§ 36. Mr. Warbeyasked the Chancellor of the Exchequer by how much the level of retail prices has risen since July of last year; and what is his estimate of retail price movements during the remainder of this year.
§ Mr. BrookeThe index of retail prices rose from 115 in July, 1961, to 118 in March, 1962. The abnormal current shortage of potatoes and other vegetables may cause a further temporary rise in the next month or two. But if the incomes policy succeeds and we can secure a more realistic relationship between total increases in incomes and total increase in production, there will be good hope of keeping prices fairly stable in the second half of 1962.