As the Deputy is aware, the consumer price index is published on a monthly basis by the Central Statistics Office.
The latest published CPI report relates to December 2001. It highlights that the average annual rate of inflation for 2001 was 4.9%, down from the average for 2000, which was 5.6%. The CPI for January will be published later this week.
It is projected that the average rate of inflation in 2002 will be 4.2%. Budget 2002 provided for substantial increases in all personal and qualified adult social welfare rates as well as for child benefit. The level of increases represent real increases, well ahead of projected inflation for 2002.
Among the significant increases in the budget are: increases in weekly personal rates of payments of between 7.4% and 11.8% – this represents significant real increases, ahead of projected inflation; and increases in weekly rates of qualified adult allowances of between 12.6% and 14.9%. This too represents real increases ahead of projected inflation.
Furthermore, these increases applied from the beginning of January. This means that in 2002, those receiving social welfare payments will receive their increase 23 weeks earlier in the budget year than when this Government came into office.
I am also providing once again for record increases in child benefit, thereby continuing our policy of record investment in children. These increases, payable with effect from April are from 37.1% for each of the first two children to 34.9% for the third and subsequent children. This comes on top of increases of 59% and 54%, respectively, in 2001.
The Government has delivered substantial increases for all social welfare clients during its period in office. These increases, announced in the recent budget, not only fully protect all recipients from projected inflation in 2002 but provide substantial real improvements in their standard of living.