§ Mr. Harry GreenwayTo ask the Chancellor of the Exchequer what was the average annual rate of inflation between March 1974 and May 1979 and for the last five years; and if he will make a statement.
§ Mr. LilleyThe average rate of retail price inflation between March 1974 and May 1979 was 15.5 per cent. per annum. Inflation between October 1983 and October 1988 has averaged 4.9 per cent. per annum.