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Money Supply

Volume 885: debated on Monday 27 January 1975

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asked the Chancellor of the Exchequer if he will give the figures for the annual increase in money supply for 1974, using both the M1 and M3 measures of money supply, respectively; and if he will also give the appropriate annual figure for the depreciation in the value of the £ sterling for 1974.

Figures of money supply for the calendar year are not yet available. In the banking year—12th December 1973 to 11th December 1974—M1 and M3 rose by 7·2 per cent. and 11·4 per cent. respectively, using seasonally-adjusted figures. In calendar year 1974 the retail price index rose by 19·1 per cent.