14 January, 2000
Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Ms
Mari Suviranta +358 9 1734 3501
Harmonised Index of Consumer Prices: Ms Mari Ylä-Jarkko +358 9 1734
3310
Director in charge: Mr Jarmo Hyrkkö
Inflation accelerated to 2.0 per cent in December
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 2.0 per cent in December. The rate of inflation quickened, for in November it was 1.6 per cent. Especially increases in the prices of petrol and light fuel oil speeded up inflation. The average rate of inflation in 1999 was 1.2 per cent.
The total direct impact of higher petrol and light fuel oil prices on inflation amounted to 1.0 percentage points in December. Higher dwelling prices put inflation up by 0.3 percentage points and higher rents by 0.2 percentage points. The year-on-year change in consumer prices continued to be curbed most by reductions in housing loan and consumer credit interest rates. The prices of coffee, mobile telephone calls and personal computers also went down.
From November to December, consumer prices went up by 0.4 per cent. This was especially caused by higher prices of petrol, light fuel and package tours. Housing loan and consumer credit interest rates also went up.
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Inflation indicators in Finland, December 1999 |
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|
Point figure |
Change on one year |
Change on one month |
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|
Consumer Price Index (1995=100) |
105.5 |
2.0% |
0.4% |
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|
Cost of Living Index (1951:10=100) |
1,466 |
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|
Harmonised Index of Consumer Prices (1996=100) |
104.9 |
2.2% |
0.3% |
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Each mid-month, Statistics Finland interviewers collect over 50,000 prices from approximately 2,000 outlets for the Consumer Price Index. In addition, some 600 items of price data are gathered by centralised collection.
Inflation in EU countries 1.5 per cent in November
According to the Harmonised Index of Consumer Prices, the rate of inflation in the EU Member States was 1.5 per cent in November. Inflation quickened, for in October the rate was 1.3 per cent. In the member countries of the EMU, the year-on-year increase in consumer prices was 1.6 per cent. Inflation in the EU was fastest in Ireland, where prices rose by 3.0 per cent in the year to November, and slowest in Sweden, at 0.8 per cent.
In December, the Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) stood at 104.9 and the year-on-year change at 2.2 per cent. From November to December, the index rose by 0.3 per cent.
Source: Consumer Price Index 1999, December. Statistics Finland.