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Pound (Purchasing Power)

Volume 478: debated on Thursday 26 October 1950

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asked the Chancellor of the Exchequer upon what basis he calculates that the purchasing power of the pound sterling has increased during the past few months from 16s. to 16s. 2d. of its 1945 value; which commodities have fallen in price; and by how much in each case.

By reference to the movement in the Interim Index of Retail Prices between May and August this year. This movement reflected the cheaper summer tariff for coal, together with certain price reductions, of which the most important averaged about 60 per cent. for cabbages, about 40 per cent. for onions, cooking apples, and cauliflowers, and nearly 10 per cent. for tomatoes.