14 June 2002
Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Ms
Tina Telasuo +358 9 1734 2951, Mr Juhani Pekkarinen +358 9 1734
3476
Harmonised Index of Consumer Prices: Ms Mari Ylä-Jarkko +358 9 1734
3310
Director in charge: Mr Kari Molnar
Inflation slowed to 1.3 per cent in May
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, slowed down to 1.3 per cent in May. In April it stood at 1.8 per cent. Inflation decelerated mainly because of lower price of petrol compared to last year's May.
Risen food prices from the year before put consumer prices up by 0.5 percentage points. Rent increases accounted for 0.2 percentage points of inflation, as did higher prices of health care and of recreational and cultural services. The fall in interest rates decreased inflation by 0.6 percentage points and lower prices of liquid fuels by 0.4 percentage points.
From April to May, consumer prices rose by 0.2 per cent, which was mostly due to higher prices of vegetables and rent increases. Lower price of petrol curbed the rise of consumer prices from April to May.
Inflation indicators in Finland, May 2002
>
|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (2000=100) |
104.6 |
1.3% |
0.2% |
|
Cost of Living Index (1951:10=100) |
1,569 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
112.5 |
1.8% |
0.2% |
Each mid-month, Statistics Finland interviewers collect over 65,000 prices on 492 commodities from approximately 3,500 outlets for the Consumer Price Index. In addition, some 1,000 items of price data are gathered by centralised collection.
According to preliminary data, inflation in EMU countries 2.0 per cent in May
According to preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the member states of the EMU was 2.0 per cent in May. Inflation slowed down because in April it was 2.4 per cent. The corresponding figure for Finland in May was 1.8 per cent.
Eurostat's estimate on inflation in the EMU area is based on preliminary data published by certain member states and on the price development of energy. Eurostat will publish detailed data on the Harmonised Indices of Consumer Prices for May on 18 June.
Source: Consumer Price Index 2002, May. Statistics Finland