Ms Jasmina Behan:

I will ask a colleague from the Department of Finance to come in on the HICP piece, but I will try to answer it first. As I mentioned in the opening statement, we moved towards the HICP and away from the CPI. It is more in line with the EU comparison, so there is that international aspect to it. It has always been the case that individual countries' circumstances may not fit neatly into the measurement. There is an even greater complexity around what is measured in each case and what is appropriate to use for indexation of pensions, such as baskets of goods and so on. The view that the HICP may be more appropriate for pensions because it excludes certain elements and might better reflect the basket of goods is one aspect to using that parameter, but other parameters can be used as well. With regard to including house ownership, again the consideration is about who the indexation is trying to protect. For some individuals who do not own, it might be appropriate to use a different parameter, and maybe the HICP is more appropriate. There are pros and cons in using different indices to grow the inflation. Perhaps my colleague Mr. McGann would have greater insight into the HICP.