15 October 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 Ilkka Lehtinen
Inflation slowed to 2.2 per cent in September
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 2.2 per cent in September. In August it was 2.4 per cent. Inflation slowed down mainly due to lower prices of liquid fuels compared to September 2000.
In September, higher food prices accounted for as much as good one third of inflation, i.e. 0.8 per cent. The rise was mainly due to higher prices of meat, especially of pork and processed meat. In addition, prices of milk products, fruit and vegetables also grew from the year before. Inflation was also sustained by higher rents and increased prices of package tours, newspapers and magazines. Apart from lower prices of liquid fuels, inflation was curbed by lower prices of dwellings from last year.
From August to September, consumer prices rose by 0.5 per cent, which was mainly caused by that prices of petrol and light fuel oil went up again and prices of package tours and rents increased.
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Inflation indicators in Finland, September 2001 |
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|
Point figure |
Change |
Change |
|
|
Consumer Price Index (1995=100) |
111.7 |
2.2% |
0.5% |
|
Cost of Living Index (1951:10=100) |
1,552 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
110.9 |
2.6% |
0.9% |
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 2.7 per cent in August
According to the Harmonised Index of Consumer Prices, the rate of inflation in the member countries of the EMU was 2.7 per cent in August. Inflation continued to slow down slightly from June and July. Inflation in the EMU was still fastest in the Netherlands, at 5.2 per cent and slowest in France, at 2.0 per cent. The corresponding figure for Finland stood at 2.7 per cent. In the EU Member States, inflation was 2.6 per cent in August.
The Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) for September rose by 2.6 per cent from the previous year. The index went up by 0.9 per cent from August to September. Eurostat will publish the Harmonised Indices of Consumer Prices for September on 17 October.
Source: Consumer Price Index 2001, September. Statistics Finland