asked the Taoiseach the value of the pounds as at 1 January in each year since 1970 with that year as a base.
Written Answers. - Value of £.
256.
The value of the pound is estimated on the basis of the consumer price index which is calculated in respect of mid-February, mid-May, mid-August and mid-November each year. The amounts which would have been required at mid-February each year since 1970 to purchase the same quantum of goods and services at retail prices as £1 would have purchased at mid-February 1970 are given in the following table.
|
Period |
£ |
|
Mid February 1970 |
1.00 |
|
,,,, 1971 |
1.10 |
|
,,,, 1972 |
1.20 |
|
,,,, 1973 |
1.32 |
|
,,,, 1974 |
1.50 |
|
,,,, 1975 |
1.86 |
|
,,,, 1976 |
2.16 |
|
,,,, 1977 |
2.52 |
|
,,,, 1978 |
2.72 |
|
,,,, 1979 |
3.02 |
|
,,,, 1980 |
3.49 |