§ Mr. Martenasked the Secretary of State for Prices and Consumer Protection what has been the effect on the average level of retail food prices of the increase in CAP support prices, including the transitional steps, in each of the years since the United Kingdom joined the Common Market.
§ Mr. MaclennanThe effects of the 1976 and 1977 CAP price settlements were contained in the reply I gave the hon. Member on 23rd June. The effects of earlier settlements were given in statements by the Ministers of Agriculture of the time on 1st May 1973 [c. 994], 25th March 1974 [c. 38], and 17th February 1975 [c. 918]. The estimate given for each year relates to the market conditions obtaining in that year. This means that a succession of annual estimates are not necessarily cumulative.
It should also be remembered that during the period covered by these settlements world food prices have also risen very sharply. Since January 1973 the 439W Economist index of world food commodity prices has risen, in sterling, by some 250 per cent.