15 November, 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 4.1 per cent in October
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 4.1 per cent in October. Inflation slowed down somewhat, for in September the rate was 4.2 per cent.
The direct impact of higher petrol and light fuel oil prices on inflation amounted to a total of 1.1 percentage points in October. The impact of higher interest rates on inflation was 0.8 percentage points and that of higher food prices 0.2 percentage points. Rents and dwelling prices also went up from the year before.
Inflation was curbed in October by lower prices of used cars, mobile telephones and electricity.
From September to October, consumer prices went up by 0.1 per cent, mostly due to higher interest rates and increases in the prices of package tours. In contrast, petrol prices went down from September to October.
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Inflation indicators in Finland, October 2000 |
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|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (1995=100) |
109.4 |
4.1 % |
0.1 % |
|
Cost of Living Index (1951:10=100) |
1,520 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
108.2 |
3.4 % |
0.1 % |
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 member countries of EMU 2.8 per cent in September
According to the Harmonised Index of Consumer Prices, the rate of inflation in the member countries of EMU was 2.8 per cent in September. Inflation quickened from August when it was 2.3 per cent. Among the member countries of EMU inflation was fastest in Ireland, at 6.0 per cent, and slowest in Austria, at 2.2 per cent. The corresponding figure for Finland stood at 3.4 per cent in September. In the Member States of the EU inflation was 2.5 per cent in September.
In October, the Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) stood at 108.2 and the year-on-year change at 3.4 per cent. From September to October, the index rose by 0.1 per cent. The Statistical Office of the European Communities, Eurostat, will release the EU's Harmonised Index of Consumer Prices on 17 November 2000.
Source: Consumer Price Index 2000, October. Statistics Finland