§ Mr. Strang
asked the Minister of Agriculture, Fisheries and Food what would be the effect of a 5 per 267W cent. revaluation of the green pound upon the retail price index, and the prices of one pound of (a) butter, (b) bacon, (c) cheese, (d) sugar and (e) beef.
§ Mr. Peter Walker
If the green pound were revalued by 5 per cent., and if the resulting change in institutional prices were to be fully reflected at retail level with no adjustment of traders' margins, this would reduce the retail price index by less than 0.25 per cent. The effect of the revaluation on the retail price of individual commodities would depend on market conditions.