§ 10. Mr. PawseyTo ask the Chancellor of the Exchequer what is the current rate of inflation in the United Kingdom, the United States of America, Germany and France.
§ Mr. NelsonHeadline inflation in the year to March was 2.3 per cent. in the United Kingdom, compared with 2.5 per cent. in the United States, 3.2 per cent. in Germany and 1.5 per cent. in France.
§ Mr. Simon CoombsTo ask the Chancellor of the Exchequer what has been the average rate of retail price inflation in each of the last five Parliaments; and what is the current average for the present one.
§ Mr. NelsonThe average rate of retail price inflation for the last five Parliaments are shown in the table:
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Parliament Assembled Dissolved Average rate of Retail Price Inflation Per cent. 6 March 1974 20 September 1974 17.0 22 October 1974 7 April 1979 15.2 9 May 1979 13 May 1983 11.5 15 June 1983 18 May 1987 4.8 17 June 1987 16 March 1992 6.4 These compare with a current average of 1.4 per cent. for the present Parliament, assembled 27 April 1992 up to and including March 1994.
§ 23. Mr. BrazierTo ask the Chancellor of the Exchequer what estimates he has made of the impact of non-seasonal sales and special offers on measurements of inflation.
§ Mr. PortilloNon-seasonal sales discounts are recorded in the retail prices index in the same way as any other price change, as are special offers that involve a straightforward price reduction. However, some special offers, such as discounts on multi-pack buys or on the next purchase, are not measured in the RPI.
The RPI does not identify the reasons for price changes, so the impact of non-seasonal sales and special offers is not separately distinguishable.