HC Deb 17 June 2004 vol 422 cc1033-4W
20. Mr. Forth

To ask the Chancellor of the Exchequer if he will make a statement on the current level of the consumer price index. [179142]

Ruth Kelly

Thanks to the macro-economic reforms this Government put in place upon coming to power, the UK economy is enjoying the longest period of sustained low inflation for 49 years.

CPI inflation stood at 1.5 per cent. in May. The 2004 Budget forecast is for it to rise back to its symmetrical 2 per cent. target by the second half of next year.