§ Mr. HoodTo ask the Chancellor of the Exchequer what was the inflation rate from 1 October 1992 to 30 September 1993; and if he will make a statement.
§ Mr. Anthony NelsonIn September 1993 the headline rate of inflation, as measured by the 12-month increase in the all items retail prices index, was 1.8 per cent.; and the underlying rate of inflation, as measured by the 12-month increase in the RPI excluding mortgage interest payments, was 3.3 per cent. In September 1994 the headline rate was 2.2 per cent. and the underlying rate was 2.0 per cent. —the lowest rate since 1967.