14 February, 2001
Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Mr
Juhani Pekkarinen +358 9 1734 3476
Harmonised Index of Consumer Prices: Ms Mari Ylä-Jarkko +358 9 1734
3310
Director in charge: Mr Jarmo Hyrkkö
Inflation slowed down to 3.3 per cent in January
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 3.3 per cent in January. In December it was 3.5 per cent. The rate of inflation was primarily curbed by lower prices of liquid fuels and dwellings.
The rise in housing loan and consumption credit interests from January 2000 to January 2001 had the largest impact on inflation, 0.7 percentage points in all. The direct impact of higher petrol and light fuel oil prices on inflation was only under 0.2 percentage points in January. Higher food prices put inflation up by 0.6 percentage points. This was mainly due to increased prices of meat and milk products. In addition, rents, public transport fares and restaurant prices rose in the year to January.
From December to January, consumer prices went down by 0.2 per cent, which was mostly due to seasonal sales of clothes and lower prices of petrol and light fuel oil.
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Inflation indicators in Finland, January 2001 |
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|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (1995=100) |
108.9 |
3.3 % |
-0.2 % |
|
Cost of Living Index (1951:10=100) |
1,514 |
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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 EMU countries 2.6 per cent in December
According to the Harmonised Index of Consumer Prices, the rate of inflation in the member countries of the EMU was 2.6 per cent in December. Inflation slowed down slightly, as it was 2.9 per cent in November. Inflation in the EMU was fastest in Ireland, at 4.6 per cent and slowest in France, at 1.7 per cent. The corresponding figure for Finland stood at 2.9 per cent. In the EU Member States, inflation was 2.3 per cent in December.
The Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) for January will be made public at the same time as Eurostat publishes the Harmonised Indices of Consumer Prices for January on 28 February.
Source: Consumer Price Index 2001, January. Statistics Finland