Bernard Durkan (Kildare North, Fine Gael)
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Question 217: To ask the Tánaiste and Minister for Finance the way inflation levels here compare with the best and the worst in eurozone countries; and if he will make a statement on the matter. [24048/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The latest available figures for the Harmonised Index of Consumer Prices (HICP) show that annual inflation for the twelve months to August, in the 13 euro area countries, was highest in Slovenia, at 3.4 per cent, second highest in Greece, at 2.7 per cent, while Ireland was third highest, at 2.3 per cent. The euro area country with the lowest HICP increase in that period was the Netherlands, at 1.1 per cent.

The relatively high level on HICP inflation in Ireland when compared with the majority of Euro area countries, demonstrates the need for pay moderation and increased competition across the economy. Figures for September 2007 were due to be published by Eurostat today, October 16th, but were not available at the time of writing. My officials will send them to you shortly.