Brian O'Shea
Question:60 Mr. O'Shea asked the Minister for Finance the projected level of inflation for 2002 based on the latest information available to his Department; and if he will make a statement on the matter. [5550/02]
Vol. 548 No. 5
60 Mr. O'Shea asked the Minister for Finance the projected level of inflation for 2002 based on the latest information available to his Department; and if he will make a statement on the matter. [5550/02]
Inflation, as measured by changes in the consumer price index, averaged 4.9% in 2001. It is expected that inflation will moderate over the course of this year and the current forecast, as published in the stability programme December 2001 update, is for an average CPI inflation rate of 4.2% in 2002. It is crucial for the competitiveness of the economy that the inflation rate continues to moderate and that costs throughout the economy evolve in a sustainable manner during the period.