Micheál Martin (Cork South Central, Fianna Fail)

On the European measure of comparable inflation rates, inflation measured 2.7% last year. The Central Bank and Financial Services Authority expects the figure for this year to be approximately 2.8% this year but to decline to the euro area average next year. Nevertheless, cost pressures are a concern. The Government has not increased indirect taxes in three successive budgets in order to help restrain inflationary pressures. I abolished the groceries order to bring more price competition into the consumer's shopping basket. On that issue, Fine Gael managed to have three positions in a single day and it now has a policy of reducing prices to consumers by increasing prices paid to producers.

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