TITLE

Retail prices galloping ahead

PUB. DATE
April 1980
SOURCE
Accountancy;Apr1980, Vol. 91 Issue 1040, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Other
ABSTRACT
This article provides a statistical data on retail prices in Great Britain from 1975 to 1980. The year on year annual rate of inflation rose to a high of 26.87% in August 1975, fell back over the next year to a low of 12.9% in July 1976, reached a high of 17.7% in June 1977. In October 1978 it was back to a low of 7.81%. In December 1978 it was 8.39%; by May 1979 it was 10.32%; by August it was 15.80%; by December it was 17.24%, and in 1980 it is 19.10%. Prices have doubled since March 1975. They have trebled since January 1972 and quadrupled since April 1967, and the increase is five-fold since June 1960, six-fold since June 1952, eight-fold since May 1947 and ten-fold since August 1921. If inflation continues at its annual rate, prices will multiply by a factor of 5 by April 1989.
ACCESSION #
6050994

 

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