| 159 | 156 | 98.1 | 92.0 | | Dec. | 158 | 156 | 98.7 | 94.6 | | 1923 Jan. | 160 | 156 | 97.5 | 95.7 | | Feb. | 163 | 157 | 96.3 | 96.2 | | March | 163 | 159 | 97.5 | 96.5 | | April | 165 | 159 | 96.4 | 95.7 | | May | 164 | 156 | 95.1 | 95.0 | | June | 160 | 153 | 95.6 | 94.8 | +--------------+------------+-----------+-------------+-----------+ [31] _Economist_ Index Number. [32] U.S. Bureau of Labour Index Number, as revised. [33] The U.S. Bureau of Labour Index Number divided by the _Economist_ Index Number. [Illustration: ENGLAND] FRANCE AND THE UNITED STATES +--------------+-------------+-----------+ | | Purchasing | | | Per cent of | Power | Actual | | 1913 Parity. | Parity.[34] | Exchange. | +--------------+-------------+-----------+ | 1919 Aug. | 62 | 66 | | Sept. | 58 | 61 | | Oct. | 55 | 60 | | Nov. | 53 | 55 | | Dec. | 52 | 48 | | 1920 Jan. | 48 | 44 | | Feb. | 44 | 36 | | March | 42 | 37 | | April | 41 | 32 | | May | 45 | 35 | | June | 49 | 41 | | July | 48 | 42 | | Aug. | 46 | 37 | | Sept. | 43 | 35 | | Oct. | 42 | 34 | | Nov. | 43 | 31 | | Dec. | 41 | 30 | | 1921 Jan. | 42 | 33 | | Feb. | 42 | 37 | | March | 43 | 36 | | April | 43 | 37 | | May | 44 | 43 | | June | 44 | 42 | | July | 43 | 40 | | Aug. | 43 | 40 | | Sept. | 41 | 38 | | Oct. | 43 | 38 | | Nov. | 42 | 37 | | Dec. | 43 | 40 | | 1922 Jan. | 44 | 42 | | Feb. | 46 | 45 | | March | 46 | 47 | | April | 46 | 48 | | May | 44 | 47 | | June | 46 | 45 | | July | 48 | 43 | | Aug. | 47 | 41 | | Sept. | 46 | 40 | | Oct. | 46 | 38 | | Nov. | 44 | 35 | | Dec. | 43 | 37 | | 1923 Jan. | 40 | 34 | | Feb. | 37 | 32 |