§ Mr. John Garrettasked the Secretary of State for Employment what is the latest retail prices index; and if he will make a statement.
§ Mr. BoothThe November 1977 figure is 187.4, which represents an increase of 13 per cent. over November last year.
The annual rate of inflation is plummeting and the Government's target of 13 per cent. inflation by Christmas has been reached a month sooner than anticipated. The best indicator of trends shows that at 8. per cent. the current rate of inflation in Britain is now well within single figures.
These figures show that the Government are mastering inflation. They underline the correctness of Government policies and the importance of maintaining them in the months ahead.