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1.
Mr. Tim Smith
asked the Chancellor of the Exchequer what representations he has received regarding his policy towards inflation.
Mr. Lawson
The Government's success in bringing down inflation has been widely welcomed.
48.
Sir John Farr
asked the Chancellor of the Exchequer what has been the average rate of inflation for the past two years; and how this compares with the figures for the period 1977 to 1979.
Mr. Ian Stewart
The average rate of inflation for the past two years has been 4·1 per cent. at an annual rate. This compares with an average of 12·5 per cent. over the period 1977 to 1979.