HC Deb 09 February 1984 vol 53 c727W
30. Mr. Hoyle

asked the Chancellor of the Exchequer if he will forecast the levels of inflation throughout 1984.

Mr. Peter Rees

I have nothing to add to the forecast provided in the autumn statement. A new projection will be provided in the Financial Statement and Budget Report in the normal way.

35. Mr. Kenneth Carlisle

asked the Chancellor of the Exchequer what is the present annual rate of inflation; and how this compares with that in other member states of the Organisation for Economic Co-operation and Development.

Mr. Peter Rees

Over the 12 months to December 1983, the United Kingdom retail price index increased by 5.3 per cent. The corresponding rates for other member states of the OECD were: West Germany 2.6 per cent.; United States 3.8 per cent.; Canada 4.5 per cent.; France 9.2 per cent.; Italy 12.7 per cent. The December figures for other member states are not yet available, and it is therefore not possible to give an OECD average figure.

42. Sir Anthony Meyer

asked the Chancellor of the Exchequer if he will make it his practice to give the level of inflation in terms of the average level over the previous 12 months.

Mr. Peter Rees

Attention is more generally focused on the most recent monthly figure, but the average level can be readily calculated from the figures published in the Department of EmploymentGazette each month. In 1983 the average level of retail prices was 4.6 per cent. above that of 1982—the lowest increase in the annual average RPI level since 1967.

58. Mr. Foulkes

asked the Chancellor of the Exchequer what was the rate of inflation in December 1983; and how it compares with the rate in May 1983.

Mr. Peter Rees

The increase over one month to December was 0.3 per cent. The equivalent figure for May 1983 was 0.4 per cent.