asked the Taoiseach if he will state the purchasing value of the £ in February for each of the years 1940 to 1952 inclusive, taking the value at February, 1939, as the base, and what will be the estimated purchasing value when the subsidies are withdrawn from certain foodstuffs in July next under (a) the former cost-of-living index and (b) the present index.
Ceisteanna—Questions. Oral Answers. - Purchasing Value of £.
I propose, with the permission of the Ceann Comhairle, to circulate in the Official Report a statement showing the value, at prices ruling in February, 1939, of the quantum of goods, purchased at retail (including rent), which could be bought for £1 in February of each of the years 1940 to 1952, inclusive.
It is estimated that, assuming all other prices entering into the interim cost-of-living index (essential items) remain as at mid-February, 1952, allowing for the changes in prices following the withdrawal of certain subsidies on foodstuffs in July next, £1 at that period would purchase the same quantum of goods at retail (including rent) as 9/- at the prices ruling in February, 1939. This estimate, and the figures given in the statement already referred to, are based on the present official interim index (essential items) linked to the former index at August, 1947. It is not possible to make such a calculation based on the former cost-of-living index alone, for any period later than August, 1947.
Following is the statement:—
VALUE at prices ruling in February, 1939, of the quantum of goods purchased at retail (including rent), which could be bought for £1 in February of each of the years 1940 to 1952, inclusive.
|
s. |
d. |
|
|
February, 1940 |
17 |
8 |
|
,, 1941 |
16 |
0 |
|
,, 1942 |
14 |
8 |
|
,, 1943 |
12 |
9 |
|
,, 1944 |
11 |
9 |
|
,, 1945 |
11 |
10 |
|
,, 1946 |
11 |
10 |
|
,, 1947 |
11 |
10 |
|
,, 1948 |
11 |
0 |
|
,, 1949 |
11 |
0 |
|
,, 1950 |
10 |
11 |
|
,, 1951 |
10 |
7 |
|
,, 1952 |
9 |
7 |