Pound’s purchasing power since 1922
L’Estrange asked how much money in specified years would buy what £1 bought in 1922; Moore said the estimates, based on the consumer price index, were provided in a circulated table.
asked the Taoiseach the amount required in 1981, 1979, 1978, 1977, 1973, 1969, 1965, 1960, 1957, 1954, 1951 and 1948 to purchase what £1 would have purchased in 1922.
Comment on this
With the permission of the Ceann Comhairle, I propose to circulate in the Official Report a statement giving the information requested by the Deputy.
Following is the statement:
The amounts, estimated on the basis of the consumer price index which would have been required in each of the years specified and in mid-February, 1981 (the latest available figure) to purchase the same quantities of goods and services at retail prices as £1 would have purchased in 1922 are given in the following table:
3.