Inflation (Hansard, 21 April 1994)

HC Deb 21 April 1994 vol 241 c599W 599W

§ 1997. Mr. Mandelson
To ask the Chancellor of the Exchequer what is the Government's target for underlying inflation in(a) 1996 and (b)

§ Sir John Cope
The Government's aim is to bring inflation down and then to hold it down. This is the only lasting basis for sustained growth. For the rest of this Parliament our objective is to keep underlying inflation, as measured by the RPI excluding mortgage interest payments, in the range 1 to 4 per cent. and for inflation to be in the lower part of this range by the end of the Parliament.