14 March 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 3.1 per cent in February
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 3.1 per cent in February. The rate of inflation slowed down, since in January it was 3.3 per cent.
In the year to February, the rise in interest rates 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 0.3 percentage points in February. Higher rents put inflation up by good 0.2 percentage points. In addition, food prices and public transport fares rose in the year to February. Inflation was curbed most by lower prices of vegetables.
From January to February, consumer prices went up by 0.6 per cent, which was primarily due to higher prices of liquid fuels and rents. The winter holiday season also raised the prices of package tours.
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Inflation indicators in Finland, February 2001 |
|||
|
Point figure |
Change |
Change |
|
|
Consumer Price Index (1995=100) |
109.5 |
3.1% |
0.6% |
|
Cost of Living Index (1951:10=100) |
1,522 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
108.5 |
2.7% |
0.6% |
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 2.4 per cent in January
According to the Harmonised Index of Consumer Prices, the rate of inflation in the member countries of the EMU was 2.4 per cent in January. Inflation slowed down slightly, as it was 2.6 per cent in December. Inflation in the EMU was fastest in the Netherlands, at 4.5 per cent and slowest in France, at 1.4 per cent. The corresponding figure for Finland stood at 2.9 per cent. In the EU Member States, inflation was 2.2 per cent in January.
The Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) for February rose by 2.7 per cent from the previous year. The index went up by 0.6 per cent from January to February. Eurostat will publish the Harmonised Indices of Consumer Prices for February on 16 March.
Source: Consumer Price Index 2001, February. Statistics Finland