asked the Minister for Finance if he is aware of a report from the European Commission to the effect that consumer prices in the EEC are continuing to rise; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - EEC Price Rises.
38.
I presume the Deputy is referring to the monthly bulletin of economic statistics entitled "Graphs and Notes on the Economic Situation in the Community" dated 30th April, 1974. The document adverts to the continuing impact during the month of March of higher prices for oil and other commodities on consumer prices in the EEC. Since then, as no doubt the Deputy is aware, prices of certain strategic commodities have fallen. It is too early as yet to say whether this trend will be maintained. If it is, this should help to ease the situation so far as this country is concerned as inflation here is largely a reflection of external factors.
Has it not been clearly indicated in the report referred to in the question that consumer prices are likely to continue rising? In view of that, and having regard to the severe hardships experienced by the general public, particularly housewives who must cope with rising food prices as well as increases in clothing and footwear prices, will the Minister consider having food and consumer goods subsidised? If this were done the general public would not experience hardship in purchasing the necessaries of life such as food, clothing and footwear.
The Deputy may be assured that the Government are examining every way of cushioning the effect of world-wide inflation.
Will the Minister accept the findings of the Central Bank to the effect that some of his own actions are inflationary, that not all the causes are external?
There are many pressures stimulating inflation but the most significant one at present is imported inflation.
The next is the Government's mismanagement.