Terence Flanagan (Dublin North East, Fine Gael)
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To ask the Minister for Finance the price differential between items priced in the UK and here;the actions he will take to help reduce this price difference for consumers; and if he will make a statement on the matter. [41470/12]

Michael Noonan (Limerick City, Fine Gael)
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Comparative consumer price level data across the EU are published by Eurostat. The data show that in 2011 Irish consumer price levels were around 17% higher than the EU27 average. Price levels in the UK were 2% higher than the EU average, implying that, broadly speaking, price levels in Ireland last year were around 15% higher than in the UK. This, however, compares with a gap of around 30% in 2009, so the situation is improving. Data in for the year to date point to a continuation of this trend.

In terms of actions to reduce the price difference for consumers, the Deputy will be aware that there has already been significant deregulation in the utility sector, with these prices now set by independent regulators. Furthermore, the Government is introducing a series of structural reforms, to bring down the cost of doing business, which should also help reduce consumer price inflation.