Richard Bruton (Dublin North Central, Fine Gael)

Does the Minister agree the trend is particularly worrying when one compares Ireland with the rest of Europe? In December our inflation rate was below the European average, but we have swung the other way, with a rate 0.7% above it on the latest CSO figures. While inflation affects all European countries, it is far worse here than anywhere else. Against that background, is the Minister for Finance concerned at comments made yesterday by the president of the European Central Bank who highlighted internal problems, which are controlled by government, as one of the core issues of inflation in Europe. Is the Minister aware that if one looks at government sectors, which the president of the European Central Bank highlighted, including transport, telecommunications, education, housing, utilities and health, Ireland is three points above European inflation in these areas? In the areas in which government has a real say in the trend of inflation, either through regulation or direct pricing, Ireland is seriously out of line and is becoming more so? Does the Minister believe the Government needs to look at pricing and regulation to ensure we have a more competitive environment for consumers?

See this speech in context