13 July 2001
Inquiries: Ms Mari Suviranta +358 9 1734 3501, Mr
Juhani Pekkarinen +358 9 1734 3476
Harmonised Index of Consumer Prices: Ms Mari Suviranta +358 9 1734
3501
Director in charge: Mr Jarmo Hyrkkö
Inflation slowed down to 3.0 per cent in June
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 3.0 per cent in June. In May it was 3.4 per cent. The rate of inflation was slowed down mainly due to lower price of petrol.
In June higher housing prices had the most impact on inflation, raising consumer prices by 0.8 percentage points in the year. The main reasons for higher housing prices were higher rents and risen interest rates. The impact of higher food prices on inflation was 0.7 percentage points and that of higher prices of cultural and leisure goods and services 0.5 percentage points. The rise of consumer prices was slightly curbed by lower petrol prices.
From May to June, consumer prices went up by just 0.1 per cent. The rise of consumer prices was primarily slowed down by lower prices of vegetables and petrol.
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Inflation indicators in Finland, June 2001 |
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|
Point figure |
Change |
Change |
|
|
Consumer Price Index (1995=100) |
111.5 |
3.0% |
0.1% |
|
Cost of Living Index (1951:10=100) |
1,550 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
110.6 |
3.0% |
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 EMU countries accelerated to 3.4 per cent in May
According to the Harmonised Index of Consumer Prices, the rate of inflation in the member countries of the EMU was 3.4 per cent in May. Inflation quickened, for in April it was 2.9 per cent. Inflation in the EMU was still fastest in the Netherlands, at 5.4 per cent and slowest in France, at 2.5 per cent. The corresponding figure for Finland stood at 3.3 per cent. In the EU Member States, inflation was 3.1 per cent in May.
The Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) for June rose by 3.0 per cent from the previous year. The index went up by 0.1 per cent from May to June. Eurostat will publish the Harmonised Indices of Consumer Prices for June on 18 July.
Source: Consumer Price Index 2001, June. Statistics Finland