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Food Prices

Volume 986: debated on Friday 20 June 1980

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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 0ยท04 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 announcementChange
24 July 1975Green pound devaluation
15 October 1975Green pound devaluation
8 March 1976CAP prices settlement
27 April 1977CAP prices settlement and green pound devaluation
1 February 1978Green pound devaluation
12 May 1978CAP prices settlement
3 April 1979Green pound devaluation
22 June 1979CAP prices settlement and green pound devaluation
27 September 1979Green pound devaluation
12 December 1979Green pound devaluation
2 June 1980CAP price settlement