Dáil
‹ Ceisteanna—Questions. Oral Answers. - Consumer Price Index. Consumer price index purchasing power
Summary
The Taoiseach’s representative said £1 in mid-August 1978 bought what 92.4 pence bought a year earlier, based on quarterly CPI figures.
asked the Taoiseach if he will state, by reference to the consumer price index, how many pence would on 5 July 1977 have purchased the cross-section of goods and services which a pound would buy today.
Comment on this
It is estimated on the basis of the Consumer Price Index numbers that £1 at mid-August 1978 would purchase the same quantum of goods and services at retail prices as 92.4 pence would have purchased at mid-August 1977. The index numbers are calculated in respect of mid-February, mid-May, mid-August and mid-November each year.