§ Mr. Galbraithasked the Chancellor of the Exchequer if he will give the annual rate of inflation each year since 1945 as a percentage.
§ Mr. DiamondThe rate of inflation could be measured in various ways, which would not necessarily give the same result. A rough indication, however, can be given from the movement of the consumer price index, the annual increase in which is shown in the table below:
Consumer Price Index Percentage increase over previous year 1946 … … … Not available 1947 … … … 6.8 1948 … … … 7.8 1949 … … … 2.3 1950 … … … 2.8 1951 … … … 9.0 1952 … … … 6.0 1953 … … … 1.7 1954 … … … 1.9 1955 … … … 3.4 1956 … … … 4.4 1957 … … … 3.1 1958 … … … 2.8 1959 … … … 0.5 1960 … … … 0.9 1961 … … … 2.9 1962 … … … 3.7 1963 … … … 1.1 1964 … … … 2.7