In view of the fact that there have been over 9,000 price increases this year, that the Government have doubled the rate of inflation, that they have introduced a new index that gives a better impression than the RPI, and that it might be higher than the RPI in August because VAT is coming out of the RPI, will the hon. and learned Gentleman consider introducing a new index—a tax, prices and unemployment index?
It would be a rash person who made such a prediction with utter confidence. As my right hon. and learned Friend has said, we hope that it will fall to 16½ per cent. by the autumn.