asked the Minister of Agriculture, Fisheries and Food if he will publish a table showing each rise in food prices since the EEC referendum which has occurred as a result of an increase in common agricultural policy prices following a devaluation of the green pound or other ministerial decision, together with the official estimate of the effect of each increase on retail food prices and on the cost of living generally ; what was the index of retail food prices at each point; and what it is at the present time.
A list of the dates and timing of major decisions on green pound devaluations and CAP price settlements is given below. It is difficult to assess the effect of these on food prices, but the estimate of my predecessor was that a 5 per cent. green pound devaluation had an effect of 1/5 per cent. on the retail price index. It is our estimate that a I per cent. increase in CAP prices in general adds about 0·04 per cent. to the retail price index. What is true of the present period is that food prices are rising far slower than prices in general.
|Date of announcement||Change|
|24 July 1975||Green pound devaluation|
|15 October 1975||Green pound devaluation|
|8 March 1976||CAP prices settlement|
|27 April 1977||CAP prices settlement and green pound devaluation|
|1 February 1978||Green pound devaluation|
|12 May 1978||CAP prices settlement|
|3 April 1979||Green pound devaluation|
|22 June 1979||CAP prices settlement and green pound devaluation|
|27 September 1979||Green pound devaluation|
|12 December 1979||Green pound devaluation|
|2 June 1980||CAP price settlement|