§ Earl Russellasked Her Majesty's Government:
What is the rate of inflation since 1974, taking 1974 as 100. [HL207]
§ Lord McIntosh of HaringeyThe information requested falls within the responsibility of the Chief Executive of the Office for National Statistics who has been asked to arrange for a reply to be given.
Letter to Earl Russell from the Director of the Office for National Statistics, Dr. Tim Holt, dated 28 January 1998.
I have been asked to reply, as Director of the Office for National Statistics, to your recent question on the rate of inflation.
The all items index of retail prices (RPI) for December 1997 was 631.2, taking Jan 1974=100. Thus, prices have risen by 531.2 per cent. between January 1974 and December 1997.
Annual rates of inflation from 1974 to 1997 can be found in Table 12 of the monthly RPI Business Monitor (MM23). The publication is available in the House of Lords Library.