asked the Taoiseach the present value of the £1 in relation to its purchasing power for the years 1914, 1920, 1930, 1939 and 1945 to 1962.
Ceisteanna—Questions. Oral Answers. - Purchasing Power of Pound Sterling.
3.
I propose with the permission of the Ceann Comhairle to circulate in the Official Report a statement giving the required information. Estimates of the purchasing power of money are based on the retail price index numbers. The appropriate index numbers are not available for the year 1920 and a corresponding estimate for that year cannot, therefore, be made. The available information suggests that retail prices rose by about 150 per cent between 1914 (the base year of the original series of index numbers) and 1920 and, on the assumption that these figures are correct the relevant estimate for 1920 would be 10/2.
Following is the statement:—
AMOUNTS which would be required at the periods specified to purchase the same quantum of goods and services at retail prices as would £1 at mid-February, 1962.
|
Period |
Amount |
Period |
Amount |
||
|
s. |
d. |
s. |
d. |
||
|
July, 1914 |
4 |
1 |
Year 1953 |
16 |
2 |
|
Year 1930 |
6 |
11 |
,, 1954 |
16 |
3 |
|
,, 1939 |
7 |
3 |
,, 1955 |
16 |
7 |
|
,, 1945 |
12 |
0 |
,, 1956 |
17 |
4 |
|
,, 1946 |
11 |
10 |
,, 1957 |
18 |
1 |
|
,, 1947 |
12 |
6 |
,, 1958 |
18 |
11 |
|
,, 1948 |
12 |
11 |
,, 1959 |
18 |
11 |
|
,, 1949 |
12 |
11 |
,, 1960 |
19 |
0 |
|
,, 1950 |
13 |
1 |
,, 1961 |
19 |
6 |
|
,, 1951 |
14 |
2 |
Feb. 1962 |
£1 0 |
0 |
|
,, 1952 |
15 |
5 |