John Perry
Ceist:194 Mr. Perry asked the Minister for Finance the action he plans to take as part of the Government's anti-inflation initiative. [20931/03]
Written Answers. - Price Inflation.
The rate of inflation in Ireland has eased significantly over the past few months, falling from 5.1% in February to just over 3% in July and August. However, we cannot afford to be complacent. Bringing the rate of inflation down further towards that of our EU partners remains a priority for the Government. This is essential in order to safeguard our competitiveness and prevent job losses. The anti-inflation initiative, which brings together key participants in the partnership process to tackle the issue of domestic inflationary pressures, has an important role to play in this regard. The anti-inflation initiative group is expected to submit its first formal report to the Government shortly and I look forward to seeing its conclusions.
I would like to say that strict adherence to the pay arrangements in Sustaining Progress is also vital to the continued easing of inflation as so much of our inflation rate is affected by wage developments.
Another important factor, if our inflation rate is to moderate further, is the control of public expenditure. My Department will continue to utilise the management and control mechanisms that are in place to ensure that this is achieved. The Government is determined that public expenditure will come in on target this year.
Question No. 195 answered with Question No. 164.
Question No. 196 answered with Question No. 193.