14 August 2001
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 continued to slow down in July
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 2.5 per cent in July. Inflation slowed down clearly, for in June it was 3.0 per cent. Inflation was curbed above all by lower price of petrol.
In July higher prices of food and non-alcoholic beverages had the biggest impact on inflation, raising consumer prices up by 0.7 percentage points in twelve months. Higher housing costs, mainly caused by rent increases and risen interest rates, put inflation up by 0.6 percentage points. In contrast, the prices of owner-occupied dwellings fell from the previous year. The rise of consumer prices was primarily slowed down by lower price of petrol.
From June to July, consumer prices fell by 0.5 per cent, due to clothing sales and lower price of petrol.
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Inflation indicators in Finland, July 2001 |
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|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (1995=100) |
111.0 |
2.5% |
-0.5% |
|
Cost of Living Index (1951:10=100) |
1,542 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
109.7 |
2.6% |
-0.8% |
Each mid-month, Statistics Finland interviewers collect over 50,000 price data items 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 slowed down to 3.0 per cent in June
According to the Harmonised Index of Consumer Prices, the rate of inflation in the member countries of the EMU was 3.0 per cent in June. Inflation slowed down, for in May it was 3.4 per cent. Inflation in the EMU was again fastest in the Netherlands, at 5.0 per cent and slowest in France, at 2.2 per cent. The corresponding figure for Finland stood at 3.0 per cent in June. In the EU Member States inflation was 2.8 per cent in June.
The Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) for July rose by 2.6 per cent from the previous year. From June to July, the index fell by 0.8 per cent. Eurostat will publish the Harmonised Indices of Consumer Prices for July on 17 August 2001.
Source: Consumer Price Index 2001, July. Statistics Finland.