asked the Taoiseach if he will state the purchasing value of £1 sterling in October, 1951, and in October, 1952, compared with October, 1939.
Ceisteanna—Questions. Oral Answers. - Value of Pound Sterling.
Statistics are not available covering transactions in all classes of goods and services to enable single comprehensive figures to be given for the purchasing power of the Irish £ in October, 1951, and in October, 1952, as compared with October, 1939.
It is estimated that at the ruling retail prices £1 would, in mid-August, 1951, have purchased the same quantum of essential goods (including rent) as 9/9 at mid-August, 1939, while the August, 1939, figure corresponding to £1 in August, 1952, was 8/11. Corresponding data for the month of October are not available.
For goods purchased at wholesale, it is estimated that for £1 in October, 1951, and in September, 1952, the relevant figures for October, 1939, were 7/8 and 7/6 respectively. Statistics for October, 1952, are not yet available.
The estimates for goods purchased at agricultural prices are that for £1 in October, 1951, and in October, 1952, the corresponding figures in October, 1939, were 7/9 and 7/5 respectively.