HC Deb 14 January 1991 vol 183 cc418-9W
Mr. Hood

To ask the Secretary of State for Scotland if he will list those European countries which have a lower rate of inflation than Scotland; and if he will give details of the interest rates in each of the countries listed.

Mr. Allan Stewart

There is no official retail prices index (RPI) for Scotland. The table lists those European Community member states which in November 1990 had a lower inflation rate than the United Kingdom's 9.7 per cent. together with their respective average November 1990 short-term interest rates.

EC member state Inflation1 Interest rates2
Denmark 2.2 n/a
Ireland 2.7 n/a
Netherlands 2.8 8.7
West Germany 3.0 8.8
France 3.6 10.0
Belgium 4.0 9.0
Luxembourg 4.5 n/a
Italy 6.5 12.6
Spain 6.7 14.1
1 Percentage change on a year earlier.
2 Nominal three-month inter-bank rates.