Prices

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 Timothy Renton Mr Timothy Renton , Mid Sussex 12:00 am, 11th October 1976

Will the right hon. Gentleman give my hon. Friend the Member for Reading, North (Mr. Durant) a rather more specific answer? Is it not a fact that the Wholesale Price Index is beginning to rise again very rapidly with a recent increase to an annual rate of 17 per cent. and that this is reflecting the fall in sterling? Will he give us some guidance? For example, if the rate of exchange is one dollar to the pound by the end of the year, what will be the effect on the RPI?