§ Mr. FraserTo ask the Chancellor of the Exchequer what was the(a) percentage increase and (b) average annual increase in the retail prices index between (i) March 1974 and April 1979 and (ii) May 1979 and April 1997. [10892]
§ Mrs. Liddell[holding answer 28 July 1997]: The information requested falls within the responsibility of the chief executive of the Office for National Statistics. I have asked him to arrange for a reply to be given.
Letter from Tim Holt to Mr. Christopher Fraser, dated 29 July 1997:
The Chancellor of the Exchequer has asked me to reply as Director of the Office for National Statistics to your recent question about the increase in the Retail Prices Index.Between March 1974 and April 1979 the percentage increase in the Retail Prices Index was 108.8 per cent for the period. This compares with 185.6 per cent for the period May 1979 to April 1997.The average annual increase in the Retail Prices Index for the period March 1974 to April 1979 was 15.3 per cent per annum. This compares with 6.0 per cent for the period May 1979 to April 1997.