Dáil Éireann - Volume 585 - 06 May, 2004

Written Answers. - Price Inflation.

  115. Mr. Durkan asked the Minister for Finance the extent to which he or his Department monitors price increases which are not reflected in the CPI and consequently do not affect inflation rates but do have a seriously negative impact on the consumer; and if he will make a statement on the matter. [13111/04]

  116. Mr. Durkan asked the Minister for Finance if he or his Department have investigated the impact on the economy of price increases excluded from the CPI but seriously eroding disposable income; and if he will make a statement on the matter. [13112/04]

  Mr. McCreevy: I propose to take Questions Nos. 115 and 116 together.

The director general of the Central Statistics Office, CSO, has sole responsibility for and is independent in deciding, the statistical methodology and professional standards to be used in compiling the consumer price index, CPI. The latest CPI release shows inflation in March was 1.3%, down from 4.9% in March last year, its lowest level in over four years. This is a very welcome development.