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Interim Index Of Retail Prices (Fares And Food)

Volume 526: debated on Tuesday 13 April 1954

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asked the Minister of Labour the percentage rise in the cost of transport fares as compared with the percentage rise for food over the years 1952 and 1953, as recorded by the retail price index compiled by his Department.

Between January, 1952, and January, 1954, the fares component of the Interim Index of Retail Prices showed a rise of 15·4 per cent., compared with a rise of 10·2 per cent. for the food group.

asked the Minister of Labour the percentage rise in the cost of food between July, 1945, and October, 1951, as recorded by the retail price index compiled by his Department.

Up to June, 1947, the only official index of retail prices was the earlier Cost-of-Living Index, based on a 1914 standard of consumption. The Interim Index of Retail Prices was introduced in June, 1947, and in its scope and nature this index is radically different from the earlier Cost-of-Living Index. Owing to these differences it is not possible to calculate any official figure, on a comparable basis, which could be said to measure the rise in the average level of food prices between July, 1945, and October, 1951, but the rise between June, 1947, and October, 1951, was about 43 per cent.