§ Lord McCARTHYasked Her Majesty's Government:
What are the latest figures for projected movements in the Retail Price Index given increases in the RPI and the rate of increase in average earnings which have taken place since the Budget Statement.
§ Lord COCKFIELDThe latest forecast, published in December, is for a 14 per cent. increase in the Retail Price Index during the 12 months up to Q4 1980. A further forecast will be published at the time of the Budget.
§ Lord McCARTHYasked Her Majesty's Government:
How far, in the light of these increases in RPI and average earnings since the Budget Statement, they still believe that the rate of increase in the RPI will begin to decline after the third quarter of 1980; and what is their present forecast for the rise in the RPI for 1980 as a whole.
Lord COCK FIELDThe latest forecast, published in December last year, is for a 14 per cent. increase in the Retail Prices Index during the 12 months up to Q4 1980. I do not intend to elaborate on this forecast. A further forecast will be published at the time of the Budget.
§ Lord McCARTHYasked Her Majesty's Government:
How far estimates of future movements in the RPI, which were made at the time of the publication of their expenditure plans for 1980–81 now need to be revised; and what the revised figure for the RPI should be for the period covered by those plans.
§ Lord COCKFIELDA forecast of a 14 per cent. increase in the Retail Price Index during the 12 months up to Q4 1980 was published in December last year. A further forecast will be published at the time of the Budget.