Retail Price Index

Oral Answers to Questions — Employment – in the House of Commons at 12:00 am on 18th December 1947.

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Photo of Captain Charles Smith Captain Charles Smith , Colchester 12:00 am, 18th December 1947

asked the Minister of Labour whether he will now publish monthly a full list of the changes in particular retail prices used in compiling the interim retail price index in accordance with the practice followed in respect of the former cost-of-living index.

Photo of Mr George Isaacs Mr George Isaacs , Southwark North

I regret that this is not practicable.

Photo of Captain Charles Smith Captain Charles Smith , Colchester

Will my right hon. Friend state why it is not practicable?

Photo of Mr George Isaacs Mr George Isaacs , Southwark North

Yes, Sir. It is necessary to measure price movements and not absolute prices. At the same time, we have to take into consideration the value of the article as well as the price. Therefore, we can only measure the price tendencies, and not the price of specific articles.