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Inflation

Volume 196: debated on Thursday 17 October 1991

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20.

To ask the Chancellor of the Exchequer whether he expects the forecasts for inflation made at the time of the Budget to be fulfilled.

Retail prices index inflation has fallen in line with expectations since the Budget forecast was made, from 8·9 per cent. in February to 4·1 per cent. in September. A new forecast will be published with the autumn statement.

24.

To ask the Chancellor of the Exchequer what is the ranking of the United Kingdom in the G7 countries in their rate of inflation.

In August the United Kingdom had the third highest inflation rate of the G7 countries.

23.

To ask the Chancellor of the Exchequer what are the latest estimates for the rate of inflation in the last quarter of 1991 and in the first quarter of 1992.

The Budget forecast was for RPI inflation to fall to 4 per cent. in the fourth quarter of 1991, and the September figure of 4·1 per cent. is in line with that. The forecast for the second quarter of 1992 was 3¾ per cent. No forecast was published for the first quarter of 1992. New forecasts will be published with the autumn statement as usual.