12 April 2001
Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Ms
Mari Suviranta +358 9 1734 3501, 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 2.9 per cent in March
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 2.9 per cent in March. It was 3.1 per cent in February. The rate of inflation was primarily slowed down by lower price of petrol from last year's March.
In March, the increase in housing prices had the largest impact on inflation, raising the overall index by one per cent. Higher housing prices were mainly caused by the rise in interest rates and rents. Increased food prices put inflation up by over 0.4 percentage points. This was principally due to higher prices of meat and milk products. Higher prices of culture and leisure goods and services also increased the price level by good 0.4 percentage points in the year to March. In addition to lower price of petrol, inflation was curbed in March by lower prices of vegetables and used cars.
From February to March, consumer prices went up by 0.4 per cent, which was primarily due to the end of seasonal clothing sales.
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|
Inflation indicators in Finland, March 2001 |
|||
|
Point figure |
Change |
Change |
|
|
Consumer Price Index (1995=100) |
110.0 |
2.9% |
0.4% |
|
Cost of Living Index (1951:10=100) |
1,529 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
109.0 |
2.5% |
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 EMU countries 2.6 per cent in February
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 February. Inflation accelerated slightly, as it was 2.4 per cent in January. Inflation in the EMU was fastest in the Netherlands and Portugal, at 4.9 per cent and slowest in France, at 1.4 per cent. The corresponding figure for Finland stood at 2.7 per cent. In the EU Member States, inflation was 2.3 per cent in February.
The Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) for March rose by 2.5 per cent from the previous year. The index went up by 0.5 per cent from February to March. Eurostat will publish the Harmonised Indices of Consumer Prices for March on 19 April.
Source: Consumer Price Index 2001, March. Statistics Finland