HC Deb 15 December 1967 vol 756 cc244-5W
Mr. James Hamilton

asked the Chancellor of the Exchequer to what extent the purchasing power of the £ sterling has decreased since January, 1957; and if he will make a statement.

Mr. Harold Lever

Taking the internal purchasing power of the £ sterling as 20s. in January, 1957 its value in October, 1967, the latest date available, is estimated at 15s. 3d.

This estimate is based on changes in the Consumer Price Index for calendar years adjusted by movements in the Retail Price Index for the months at the beginning and end of the period.