14 April, 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 further in March
According to Statistics Finland, the year-on-year change in
consumer prices, i.e. inflation, was
3.1 per cent in March. The rate of inflation quickened, for in
February it was 2.7 per cent. Inflation continued to be upheld
especially by increases in the prices of petrol and light fuel oil
and by higher dwelling prices and rents.
The direct impact of higher petrol and light fuel oil prices on inflation amounted to 1.4 percentage points in March. Higher dwelling prices and rents put inflation up by 0.5 percentage points. The prices of restaurant services, alcohol and tobacco, as well as health care charges, all increased compared to March 1999.
Inflation was curbed slightly by reductions in housing loan interest rates. The prices of used cars, mobile telephone calls and electricity also went down.
From February to March, consumer prices went up by 0.6 per cent. This was especially due to higher prices of petrol and light fuel oil and to the finishing of winter sales of clothing. In addition, housing loan interest rates went up.
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|
Inflation indicators in Finland, March 2000 |
|||
|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (1995=100) |
106.9 |
3.1 % |
0.6 % |
|
Cost of Living Index (1951:10=100) |
1,485 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
106.3 |
3.2 % |
0.7 % |
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 1.9 per cent in February
According to the Harmonised Index of Consumer Prices, the rate
of inflation in the EU Member States was 1.9 per cent in
February. Inflation quickened slightly, for in
January the rate was 1.8 per cent. Inflation in the EU was fastest
in Ireland, at 4.6 per cent, and slowest in Great Britain, at
1.0 per cent. The corresponding figure for Finland stood at 2.7 per
cent. In the member countries of the EMU, consumer prices went up
by 2.0 per cent in February.
In March, the Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) stood at 106.3 and the year-on-year change at 3.2 per cent. From February to March, the index rose by 0.7 per cent.
Source: Consumer Price Index 2000, March. Statistics Finland.