HC Deb 11 May 1995 vol 259 c608W
26. Sir Michael Neubert

To ask the Chancellor of the Exchequer what representations he has received about the latest annual rate of inflation. [22253]

Mr. Aitken

The Chancellor receives a variety of representations which reinforce his determination to achieve the Government's objective of permanently low inflation.

Mr. Harry Greenway

To ask the Chancellor of the Exchequer what has been the average rate of inflation(a) over the past five years and (b) between 1974 and 1979; and if he will make a statement. [22392]

Mr. Nelson

The average rate of underlying inflation—retail prices index excluding mortgage interest payments—over the past five years was 5 per cent.; between 1974 and 1979 it averaged 14 per cent.

The Government are committed to permanently low inflation. The benefits of low inflation are coming through in healthy growth, based on good export performance, and falling unemployment.