HC Deb 19 March 1991 vol 188 cc62-3W
Mr. Lawson

To ask the Chancellor of the Exchequer if he will provide a table for each year from 1970 to 1990 inclusive, showing(a) the average underlying rate of inflation in the United Kingdom, (b) the average rate of inflation in the United States and (c) the amount by which underlying United Kingdom inflation exceeds United States inflation.

Mr. Norman Lamont

There are various ways of measuring underlying inflation. The following table shows the United Kingdom figures as measured by the RPI excluding mortgage interest payments and the community charge/rates. These figures are available only from 1976.

Average annual increase in consumer prices
United Kingdom1 Per cent. United States of America Per cent. Difference Per cent.
1976 16.9 5.7 11.2
1977 16.0 6.5 9.5
1978 8.5 7.6 0.9
1979 12.5 11.3 1.2
1980 16.7 13.5 3.2
1981 11.7 10.3 1.4
1982 8.3 6.1 2.2
1983 5.1 3.2 1.9
1984 4.4 4.3 0.1
1985 5.0 3.5 1.5
1986 3.3 1.9 1.4
1987 3.5 3.7 -0.2
1988 4.4 4.1 0.3
1989 5.7 4.8 0.9
1990 7.2 5.4 1.8
1 All items RPI excluding mortgage interest payments and community charge/rates.

Mr. Lawson

To ask the Chancellor of the Exchequer what was the average annual underlying rate of United Kingdom inflation for the periods(a) from July 1983 to October 1989 inclusive, (b) from July 1984 to October 1990 inclusive, (c) from July 1985 to October 1991 inclusive, using as a proxy for October 1991 the forecast for the fourth quarter of 1991 published in the 1991 FSBR, adjusted to provide a forecast for the underlying rate, and (d) from July 1985 to the latest available month, inclusive.

Mr. Norman Lamont

The average the RPI excluding mortgage interest community charge was:

  1. (i) 4.4 per cent. between July 198 inclusive;
  2. (ii) 4.4 per cent. between July 198 inclusive;
    3. 63
  3. (iii) 4.8 per cent. between July 1985 and January 1991 inclusive.

No forecast is published for underlying inflation.