asked the Taoiseach the amount of money now required to equal the purchasing power of five shillings in 1909, seven shillings and sixpence in 1916 and ten shillings in 1919, 1924, 1928 and 1948.
Written Answers. - Purchasing Power of Money.
35.
Estimates of the purchasing power of money may be based on the retail price index numbers. The first series of such index numbers for this country was calculated in 1922, to base July, 1914=100. The relevant index numbers are not, therefore, available for the years 1909, 1916 and 1919. The information available suggests that retail prices in the United Kingdom rose by 6.4 per cent between 1909 and 1914 (the base year for the first Irish series of retail price index numbers), by 46 per cent between 1914 and 1916 and by 115 per cent between 1914 and 1919. On the assumption that the earlier figures for the United Kingdom apply to this country, the following statement gives the estimated amounts required at mid-August, 1964 (the latest date for which the relevant index has been calculated), to purchase the same quantum of goods and services at retail prices as would the amounts specified in the years in question.
|
Amount required at mid-August, 1964 |
||
|
s. |
d. |
|
|
5/- in 1909 |
29 |
4 |
|
7/6 in 1916 |
28 |
4 |
|
10/- in 1919 |
25 |
8 |
|
10/- in 1924 |
29 |
9 |
|
10/- in 1928 |
31 |
9 |
|
10/- in 1948 |
17 |
5 |