Vol. 522 No. 3
78 Mr. Broughan asked the Tánaiste and Minister for Enterprise, Trade and Employment the plans she has to monitor the likely inflationary impact of the euro changeover in 2000 and 2001, especially in view of past experience of rounding-up prices during decimalisation. [18789/00]
Euro coins and notes will not be issued for general circulation until January 2002. As such there is unlikely to be any identifiable inflationary or deflationary impact from consumer goods price changes attributable to the euro until the period October to December 2001, as most providers of goods and services are generally not expected to change their prices to euro until close to the changeover date, 1 January 2002.
Last year, my Department in conjunction with the Office of the Director of Consumer Affairs produced a national code of practice on dual pricing in preparation for the introduction of euro notes and coins. The purpose of this code of practice is to provide for transparency in the pricing of goods and services during the changeover from the IR£ to the euro.
Suppliers of goods and services to consumers may subscribe to this code by notifying the Director of Consumer Affairs in writing of their intention to do so. The minimum period during which subscribers to the code will be required to observe its provisions will be from 1 October 2001 until one month after the withdrawal of Irish notes and coins. Subscribers to the code will be committed to displaying prices of goods and services to the fullest extent practicable in both currencies.
It is anticipated that the implementation of this code of practice by goods and service providers will both introduce a significant measure of price transparency into the changeover process and facilitate the monitoring of price rounding when the changeover takes place in January 2002.
I will consider what further action needs to be taken to ensure that consumers are adequately protected when we come closer to the changeover date.
