§ Mr. Harry GreenwayTo ask the Chancellor of the Exchequer what was the average rate of inflation between February 1974 and May 1979 and over the past five years; and if he will make a statement.
§ Mr. NelsonBetween February 1974 and May 1979 the average rate of inflation, as measured by the retail prices index, was 15.4 per cent. per annum. This compares with 4.5 per cent. for the last five years to March 1994, the latest month for which information is available.