asked the Chancellor of the Exchequer what were the relative prices in table 1 of the Economic Progress Report for July 1977; and haw these compare with the latest figures.
The relative prices given were those of a broadly comparable "basket" of consumer goods and services in domestic currencies in each of the EEC capitals expressed as a percentage of the price—in foreign exchange—of an equivalent purchase in London. The estimates were based on a five-yearly survey of consumer prices, last carried out in 1975, by the Statistical Office o the European Communities.As the 1980 survey is not quite completed, later results are not yet available. However, the following table gives approximate up-dates for September 1980 derived by the Department of Employment by adjusting the 1975 data with reference to subsequent changes in respective consumer prices indices.
Consumer purchasing power parities as a percentage of market exchange rates. | ||
October 1975 | September 1980* (provisional estimates) | |
London | 100 | 100 |
Bonn | 129 | 102 |
Paris | 131 | 102 |
Rome | 101 | 78 |
Amsterdam | 119 | 96 |
Brussels | 122 | 90 |
October 1975 | September 1980* (provisional estimates) | |
Luxembourg | 113 | 90 |
Dublin | 98 | 88 |
Copenhagen | 147 | 122 |
* Exchange rates for September 1980 relate to end of month. |