Dáil Éireann Debate, Wednesday - 23 June 2004
92 Mr. Durkan asked the Minister for Finance the steps he has taken to combat those cost of living price rises not reflected in the CPI; if he has identified the major contributory factors; his plans for the future in this regard; and if he will make a statement on the matter. [18096/04]
Amharc ar fhreagraThe 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. The latest CPI release shows inflation in May was 1.7%, down from a high last year of 5.1% in February 2003. The moderation in inflation is a very welcome development.
