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Retail Prices Index

Volume 33: debated on Tuesday 7 December 1982

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asked the Chancellor of the Exchequer if he will publish in the Official Report an analysis of the impact of the recent fall in mortgage interest rates on the general index of retail prices.

[pursuant to his reply, 6 December 1982, c. 346]: The 1ยท5 per cent. fall in the mortgage rate announced in August will have reduced the retail prices index by 2/5 per cent. The further 2 per cent. fall announced in November will in due course reduce it by another 3/5 per cent. These are estimates of the direct. impact of the falls on the RPI. They do not take account of second round effects on this or other components of the RPI.