asked the Taoiseach the increase in the consumer price index from 1st November, 1967; and the basis on which he estimated a two per cent increase in the cost of living at that time.
Ceisteanna — Questions. Oral Answers. - Consumer Price Index.
14.
The consumer price index is calculated quarterly in respect of mid-February, mid-May, mid-August and mid-November: the results of the inquiry for mid-February of this year are expected to be available about mid-March next.
In regard to the second part of the Deputy's question, my estimate was 2.3 per cent and related solely to the effect on the general price level of the devaluation of the pound. It was on the 14th December last, in the course of my reply to the debate on the Adjournment of this House, that I dealt with the matter, and I would refer the Deputy to columns 2286 and 2287 of Volume 231 of the Dáil Debates for the information he requires.
The Taoiseach will now admit, I am sure, that as a result of devaluation, it must be more than two per cent? Furthermore, will the Taoiseach state whether we have a different system of assessing the changes in the consumer price index from Great Britain where, in the past two or three weeks, it was announced that the increase in the consumer price index since 1st February was four per cent? Is it possible for us to make an assessment at all?
I am still convinced that the effect of devaluation on the consumer price index figure is, as I have said, 2.3 per cent and I sought to establish that, and I think I did effectively, in the course of the debate to which I referred. Our method of calculating the index is a most comprehensive one, one that is not a rigid one, and which will be reviewed from time to time to ensure that as near as possible we can get the proper effect of price increases on the figure.