Other formats

    TEI XML file   ePub eBook file  


    mail icontwitter iconBlogspot iconrss icon

War Economy

The Index Remains Stable

The Index Remains Stable

For the remainder of the war and for a year or two after the war, the policy of stabilising the price structure, as far as the essential goods and services included in the index were concerned, was pursued very rigidly. As a result it was not until 1947 that the index moved more than 1 per cent above its December 1942 level.1

The index had a base equal to 1000 in December 1942. The 2 ½ per cent tolerance before wage increases were permitted would have raised it to 1025. Compared with this, its actual wartime movements were:

1942 December 1000
1943 March 1011
  June 1000
  September 996
  December 1001
1944 March 1005
  June 1001
  September 1003
  December 1004
1945 March 1006
  June 1005
  September 1001

1 Except for the very short-term rise and fall between the December 1942 and June 1943 quarters.