§ Mr. Pardoeasked the Chancellor of the Exchequer if he will estimate the weighted average rate of inflation in 191W those countries, excluding the United Kingdom, on whose currencies the Smithsonian Agreement was based since that agreement was made, and show a comparable figure for the United Kingdom.
§ Mr. DellThe rates of inflation of the countries concerned from December 1971 to March 1975 has been as follows:
per cent. Belgium 35.4 Canada 31.2 France 37.1 Germany 23.6 Italy 53.6 Japan 55.0 Netherlands 32.7 Sweden 29.1 Switzerland 30.2 United States 28.2 The comparable figure for the United Kingdom is 49.3 per cent.
It would be misleading to derive a single figure by weighting these domestic inflation rates with the trade weights used in determining the effective exchange rate.