§ Mrs. Renée Shortasked the Chancellor of the Exchequer what is the current rate of inflation; and by how much it has risen since he assumed office.
§ Sir Geoffrey Howeasked The retail prices index rose by 16.5 per cent. in the 12 months up to September 1979, compared with a figure of 10.3 per cent. to May 1979. However, because of the effect of the Budget switch from direct to indirect taxation, this does not represent a true measure of the rate of inflation. The new tax and price index, which reflects the interaction of tax and price changes, showed a rise of 14.1 per cent. in the 12 months to September 1979, compared with a figure of 12.7 per cent. to May 1979.