ACCURATE RATE OF INFLATION

That this House notes that in recent years there has been a welcome reduction in the rate of inflation, but that the current system of determining year-on-year rates of inflation are often used for determining rates of public sector pay and state pension increases which usually excludes housing rental and mortgage costs which significantly add to real living costs; and calls for a more realistic assessment to be used in determining the actual change in the cost of living each year, especially because it impacts on hard-pressed families and senior citizens.