asked the Minister for Finance if, in respect of his statement in the Official Report for 6th February, 1974, that the rate of imported inflation for 1973 was 20 per cent, he will indicate its source and the date of publication thereof.
26.
Ceisteanna—Questions. Oral Answers. - Inflation Rate.
25.
asked the Minister for Finance the source or sources for the figures for the import price increase for 1972 in his statement in the Official Report for 6th February, 1974.
I purpose, with your permission, a Cheann Comhairle, to take Questions Nos. 25 and 26 together.
Import price indices are published in Table 5 of Trade Statistics of Ireland published monthly by the Central Statistics Office. The average of the monthly import (unit value) price index numbers for 1971 (base year 1968=100) was 120.0. The corresponding figure for 1972 was 123.9. Average import prices in 1972, therefore, increased by 3.2 per cent.
The figure of 20 per cent for the rate of imported inflation in 1973 given in my statement of 6th February, 1974, was an unpublished departmental estimate made on the basis of the monthly import price indices and other data. The latest published data is for June, 1973. In the period January-June, 1973, import prices were on average 15.8 per cent higher than in the corresponding period of 1972. In June, 1973, the year on year increase was 19.5 per cent.
The Minister has given a source for one of the figures he quoted but I asked him for the source, or sources, for the figures, plural. Is the Minister aware that on that day— as reported at column 82—he gave a figure of 7 per cent for the import rise in 1972 and that in the next column, 83, he gave a figure of 3.2 per cent? Would the Minister give the source for the second figure please?
The Deputy will recall that the first figure was given in a context of the average of a period of, as far as I can remember, five years. At the time Deputy Colley challenged the application of that average to the year 1972. I then caused further inquiries to be made. I was then able to come up with the precise figure for 1972—not the average for a period of years but for the specific year 1972— and this produced a figure of 3.2 per cent which I have quoted today.
Is the Minister aware that he gave a figure of 7 per cent for 1972 as distinct from an average? Is he further aware that the context in which he gave the second figure was in the course of abuse of me for simply asking him if he would give the figure for the year and that in fact he gave two different figures for the year and that he was chancing his arm again?
We are indulging in an argument now.
I am, Sir.
One thing I never do is abuse Deputy Colley.
But the Minister has no basis for his statistics. Is not that so?
The two figures are specifically given in today's reply to which I would recommend Deputy Colley.
But they cannot both be correct.
One was wrong.
They are both right?
The figures in today's account are right. The first figure to which Deputy Colley took exception was the application of an average figure for five years and when——
The Chair is calling the next Question, No. 27.
No, at column 82 on that day, the Minister gave two figures for the same year. He is chancing his arm again.
(Interruptions.)