Bernard Durkan (Kildare North, Fine Gael)
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Question 249: To ask the Minister for Finance if he is in a position to identify, isolate and deal with the issue of inflation not reflected in the CPI; and if he will make a statement on the matter. [4394/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The Director General of the Central Statistics Office 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).

The CPI is designed to measure the change in the average level of the prices paid by consumers for goods and services. It measures in index form the monthly changes in the cost of purchasing a representative basket of consumer goods and services.

Maintaining a moderate rate of inflation remains a key priority of economic policy because of its importance in restoring competitiveness.