15 March 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 up to 2.7 per cent in February
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 2.7 per cent in February. The rate of inflation accelerated, for in January it was 2.2 per cent. Inflation continued to be sustained especially by increases in the prices of petrol and light fuel oil and by higher dwelling prices. Inflation was last on this level in March 1993.
The direct impact of higher petrol and light fuel oil prices on inflation amounted to 1.1 percentage points in February. The higher price of fuels was also visible in the prices of flights, for instance. Increases in dwelling prices and rents put inflation up by one-half percentage points in February. Health care charges and prices of restaurant services also rose compared to February 1999.
The year-on-year change in consumer prices continued to be curbed by reductions in housing loan interest rates. The prices of mobile telephone calls, electricity and used cars also went down.
From January to February, consumer prices went up by 0.7 per cent. This was especially due to higher prices of fuels, rents, and vegetables and fruit. The prices of package tours also rose.
>
|
Inflation indicators in Finland, February 2000 |
|||
|
Point figure |
Change |
Change |
|
|
Consumer Price Index (1995=100) |
106.2 |
2.7% |
0.7% |
|
Cost of Living Index (1951:10=100) |
1,476 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
105.6 |
2.7% |
0.8% |
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 1.8 per cent in January
According to the Harmonised Index of Consumer Prices, the rate of inflation in the EU Member States was 1.8 per cent in January. Inflation quickened slightly, for in December the rate was 1.7 per cent. Inflation in the EU was fastest in Ireland, at 4.4 per cent, and slowest in Great Britain, at 0.8 per cent. The corresponding figure for Finland stood at 2.3 per cent. In the member countries of the EMU, consumer prices went up by 2.0 per cent in January.
In February, the Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) stood at 105.6 and the year-on-year change at 2.7 per cent. From January to February, the index rose by 0.8 per cent.
Source: Consumer Price Index 2000, February. Statistics Finland.