§ Mr. Geoffrey Finsbergasked the Chancellor of the Exchequer what is the purchasing power of £1 sterling to the latest convenient date compared with 1st January, 1953.
§ Mr. HigginsTaking the internal purchasing power of the £ sterling as 100p in January, 1953, its value in December, 1971, the latest date for which information is available, is estimated at 51p.
This estimate is based on changes in the Consumer Price Index for calendar years adjusted by movements in the General Index of Retail Prices for the months at the beginning and end of the period. Prices are recorded in the middle of the month.