Bernard J. Durkan
Question:222 Mr. Durkan asked the Minister for Finance the extent and the steps taken to address inflation arising from items not included in the CPI. [39558/06]
View answerWednesday, 22 November 2006
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The Director General of the Central Statistics Office (CSO) has sole responsibility for and is independent in deciding the statistical methodology and professional standards to be used in compiling the Consumer Price Index (CPI).
The CPI is designed to measure the change in the average level of the prices paid by consumers for goods and services. It measures in index form the monthly changes in the cost of purchasing a representative basket of consumer goods and services.
Maintaining a moderate rate of inflation remains a key priority of economic policy because of its importance in restoring competitiveness.