§ Mr. Harry GreenwayTo ask the Chancellor of the Exchequer what was the average rate of inflation between(a) March 1974 and May 1979 and (b) November 1988 to January 1994; and if he will make a statement.
§ Mr. Nelson[holding answer 3 February 1994]: Between March 1974 and May 1979 the average rate of inflation, as measured by the retail prices index, was 15.5
992W
§ Mr. Dorrell[holding answer 26 January 1994]: I refer the hon. Member to the answer given to the hon. Member for Peckham (Ms Harman) on 19 January 1994, Official Report, columns 635–42, for figures for 1994–95. Figures for 1978–79 were placed in the House of Commons Library in answer to a previous question by the hon. Member on 13 April 1989, Official Report, column 624. The available figures for a married couple with two children where both are working are given in the table:
per cent. per annum. This compares with 5.1 per cent. for the period November 1988 to December 1993, the latest month for which information is available.