HC Deb 26 May 1999 vol 332 cc185-6W
Mr. Maude

To ask the Chancellor of the Exchequer (1) what consultations he has had with the Governor of the Bank of England with regard to the Harmonised Index of Consumer Prices; [85385]

(2) what consultations (a) Treasury Ministers and (b) Treasury officials have had with officials of the Bank of England with regard to the use of the Harmonised Index of Consumer Prices as a measure of inflation in the past 12 months. [85386]

Ms Hewitt

The Chancellor and Treasury officials meet regularly with Bank of England officials to exchange views on a wide variety of issues.

Mr. Maude

To ask the Chancellor of the Exchequer if he will make a statement on the current and future use of the Harmonised Index of Consumer Prices as a measure of inflation in the United Kingdom. [85387]

Ms Hewitt

The Government's inflation target is 2½ per cent. defined by the 12-month increase in the RPI excluding mortgage interest payments (RPIX). This target was reaffirmed in a recent letter from the Chancellor to the Governor of the Bank of England, setting out the remit for the Monetary Policy Committee. A copy of this letter has been placed in the House of Commons Library.