Mr Major’s Written Parliamentary Answer on the European Monetary System – 15 February 1990

Below is the text of Mr Major’s written Parliamentary Answer on the European Monetary System on 15th February 1990.

Sir David Steel To ask the Chancellor of the Exchequer what is the average inflation rate of countries participating in the exchange rate mechanism of the European monetary system.

Mr. Major Using data which exclude estimates of owner-occupier housing costs to provide figures on a more comparable basis, the average inflation rate of countries in the exchange rate mechanism of the EMS was 4.2 per cent. in November 1989.