Written question asked by Lord Maude of Horsham (Conservative) on Thursday, 20 May 1999, in the House of Commons. It was due for an answer on Wednesday, 26 May 1999. It was answered by Patricia Hewitt (Labour) on Wednesday, 26 May 1999 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, if he will make a statement on the current and future use of the Harmonised Index of Consumer Prices as a measure of inflation in the United Kingdom.

Answer: Mr. Maude: To ask the Chancellor of the Exchequer if he will make a statement on the current and future use of the Harmonised Index of Consumer Prices as a measure of inflation in the United Kingdom. [85387] Ms Hewitt: The Government's inflation target is 2 1/2 per cent. defined by the 12-month increase in the RPI excluding mortgage interest payments (RPIX). This target was reaffirmed in a recent letter from the Chancellor to the Governor of the Bank of England, setting out the remit for the Monetary Policy Committee. A copy of this letter has been placed in the House of Commons Library.

Secondary information