Dr. Bennettasked the Chancellor of the Exchequer what was the purchasing power of the £ sterling on 17th November 1967, in terms of its purchasing power in mid-October, 1964.
§ Mr. Harold Lever:Taking the internal purchasing power of the £ sterling as 20s. in October, 1964 its value in November 1967 is estimated at 18s. 0d.
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.