§ Ms. Harman
To ask the Chancellor of the Exchequer what estimate he has made of the effect of the change in the value of the pound sterling since 14 September 1992 on the cost of imports in the last quarter of 1992.
§ Mr. Nelson
In addition to the external value of the pound, import prices depend on world prices and importers' profit margins. Thus, it is not possible precisely to isolate the impact of the change in the exchange rate.