§ 17. Mr. Rookerasked the Chancellor of the Exchequer what is the latest rate of inflation.
§ Sir Geoffrey HoweThe retail prices index rose by 16.5 per cent. over the 12 months to September 79. The tax and price index, which is probably a better guide to changes in taxpayers' costs, rose by 14.1 per cent. over the same period.
§ 24. Mr. Winnickasked the Chancellor of the Exchequer when he expects the inflation rate to be in single figures.
§ Sir Geoffrey HoweThere is no doubt that our fiscal and monetary policies offer the only lasting solution to the rapidly rising inflation which we inherited from the last Government. However, the speed with which our policies bring down the rate of inflation will depend, amongst other things, on whether wage bargainers seek to settle at unrealistically high levels in spite of those policies.