John Gormley (Dublin South East, Green Party)
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Question 234: To ask the Minister for Finance if he is satisfied with the methodology used to calculate the consumer price index; if there is widespread acceptance of this tool as an economic indicator; and if he will make a statement on the matter. [8014/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The director general of the Central Statistics Office, CSO, has sole responsibility for and is independent in deciding the statistical methodology and professional standards to be used in compiling the consumer price index, CPI. I have no functions in this matter.

The EU harmonised index of consumer prices is compiled by EUROSTAT, the EU statistical office. Both the CPI and the HICP show inflation has fallen substantially here and is no more than the EU average. This Government has contributed to this low rate of inflation by correct fiscal policies including no changes in excise rates for the past two budgets.