§ 16. Mr. Greville Janner
asked the Chancellor of the Exchequer how much the rate of inflation has increased during the past 12 months.
§ Sir Geoffrey Howe
The retail prices index rose by 17.2 per cent. in the 12 months to December 1979. The tax and price index, which is a better guide to changes in taxpayers' costs, rose by 14.9 per cent. over the same period.
§ 26. Mr. Ioan Evans
asked the Chancellor of the Exchequer what is the present level of the tax and prices index.
§ Mr. Biffen
The tax and price index stood at 119.8 in December 1979. This represents an increase of 14.9 per cent. over the year.