§ Mr. Ralph HowellTo ask the Chancellor of the Exchequer what were(a) the rates of inflation and (b) the levels of interest rates in each country of the EEC, Japan, and the United States of America, for the most recent dates available.
§ Mr. RyderFollowing is the information requested:
Inflation and short term interest rates in the EC, US and Japan. 12 month inflation rates excluding estimates of homeowners' costs1 Short-term nominal interest rates2 United Kingdom3 6.1 15.1 United States of America 4.7 8.3 Japan 2.9 7.0 Germany 3.1 8.1 France 3.6 11.1 Italy 6.5 6.2 Belgium 3.6 8.8 Denmark 4.8 12.0 Greece 14.0 21.0 Ireland 4.2 12.1 Luxembourg 3.8 10.5 Netherlands 0.9 8.8 Portugal 11.7 12.5 Spain 7.0 15.5 1 Inflation figures are for November 1989, except for United Kingdom, Germany, France, Italy, Denmark and Belgium (December) and Ireland (Q4). 2 Interest rates refer to close 31 January, except Spain, Greece and Denmark (1 February), Ireland (January) and Portugal (October). 3 United Kingdom figure is for RPI excluding mortgage interest payments; figures for other countries exclude estimates of owner occupiers' housing costs as appropriate.