§ Mr. Harry GreenwayTo ask the Chancellor of the Exchequer what has been the average inflation rate (i) from 1974 to 1979 and (ii) since 1979; and if he will make a statement.
§ Mr. MaplesBetween December 1973 and December 1979 the average annual rate of inflation, as measured by the retail prices index, was 16 per cent. per annum. This compares with 6.9 per cent. for the period December 1979 to December 1991.