15 June, 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 2.9 per cent in May
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 2.9 per cent in May. Inflation quickened, for in April the rate was 2.7 per cent. The quickening was especially caused by increases in the prices of petrol and light fuel oil.
The direct impact of higher petrol and light fuel oil prices on inflation amounted to 1.0 percentage points in May. Higher dwelling prices put inflation up by 0.4 and higher rents by 0.2 percentage points. In addition, prices of restaurant services and public transport fares also went up in the year to May.
Inflation was curbed in May by lower prices of used cars and vegetables. The price of electricity also went down compared to last year's May.
From April to May, consumer prices went up by 0.5 per cent. This was especially due to dearer petrol and light fuel oil and higher rents. The prices of cigarettes went up whereas those of package tours went down.
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Inflation indicators in Finland, May 2000 |
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|
Point figure |
Change on one year |
Change on |
|
|
Consumer Price Index (1995=100) |
107.7 |
2.9 % |
0.5 % |
|
Cost of Living Index (1951:10=100) |
1,497 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
107.0 |
2.7 % |
0.5 % |
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 1.7 per cent in April
According to the Harmonised Index of Consumer Prices, the rate of inflation in the EU Member States was 1.7 per cent in April. Inflation slowed down, for in March the rate was 1.9 per cent. Inflation in the EU was fastest in Ireland, at 5.0 per cent, and slowest in Great Britain, at 0.6 per cent. The corresponding figure for Finland stood at 2.5 per cent in April. In the member countries of the EMU, consumer prices went up by 1.9 per cent in April.
In May, the Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) stood at 107.0 and the year-on-year change at 2.7 per cent. From April to May, the index rose by 0.5 per cent. The Statistical Office of the European Communities, Eurostat, will release the EU's Harmonised Index of Consumer Prices on 19 June 2000.
Source: Consumer Price Index 2000, May. Statistics Finland