Below is the text of Mr Major’s written Parliamentary Answer on Price Stability on 29th October 1987.
Mr. Latham Asked the Chancellor of the Exchequer whether he will make a statement on progress towards achieving Her Majesty’s Government’s ultimate objective of price stability.
Mr. Major Price stability remains the Government’s ultimate objective. Recent movements in the retail prices index have been consistent with the Budget forecast of 4 per cent. inflation in the fourth quarter of 1987. A new forecast will be published in the autumn statement.