Mary Coughlan (Donegal South West, Fianna Fail)

We have had a number of discussions on the indexation and methodology which determines inflation and prices. The CPI has been used extensively and it encompasses a huge number of items, not just luxury items but basic items also. There are 55,000 prices accumulated over 1,000 different items so it is a very extensive methodology and we do not have the ability to prepare for any change to be made to it. It is the most appropriate methodology for looking at price indexes and any change in it would not be fruitful. We have a base line set for the CPI and we make determinations on that basis. It is levelled against our inflation figures. Given the extensive professional appreciation and acceptance of the CPI, any change in its methodology would not benefit anyone and there is no necessity at present to do so.