Retail Price Index

Part of Oral Answers to Questions — Prices and Consumer Protection – in the House of Commons at 12:00 am on 11th October 1976.

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Photo of Mr Robert Maclennan Mr Robert Maclennan Parliamentary Under-Secretary (Department of Prices and Consumer Protection) 12:00 am, 11th October 1976

I do not think it helps the country to underrate the considerable achievement which has been made by working people in contributing to bringing down the rate of inflation, as they have done in the past year, by showing considerable restraint in their wage demands. They must be given full credit for offsetting other disadvantageous trends that have taken place, notably increases in the prices of commodities. Frankly, I believe that the hon. Gentleman would do well to recognise the extent of the achievement and seek to support our efforts to build on these foundations.