15 July 2002
Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Mr
Juhani Pekkarinen +358 9 1734 3476,
Mr Veli Kettunen +358 9 1734 2640
Harmonised Index of Consumer Prices: Mr Anssi Vuorio +358 9 1734
2934
Director in charge: Mr Kari Molnar
Inflation slowed down to 1.1 per cent in June
The year-on-year change in consumer prices, i.e. inflation, was 1.1 per cent in June. Inflation slowed down, for in May it stood at 1.3 per cent. Inflation decelerated mainly because of lower prices of petrol and light fuel oil compared to last year's June.
Risen food prices from the year before put consumer prices up by 0.3 percentage points. Rent increases accounted for 0.2 percentage points of inflation, as also did higher prices of health care, and cultural and leisure services. Telephone charges and the price of electricity also went up. Reduction in interest rates curbed inflation by 0.6 percentage points and lower prices of liquid fuels by 0.4 percentage points.
From May to June, consumer prices fell by 0.2 per cent, mostly due to lower prices of vegetables and liquid fuels.
Inflation indicators in Finland, June 2002
>
|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (2000=100) |
104.3 |
1.1% |
- 0.2% |
|
Cost of Living Index (1951:10=100) |
1,566 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
112.3 |
1.5% |
- 0.2% |
Each mid-month, Statistics Finland interviewers collect over 50,000 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 1.7 per cent in June
According to preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the member states of the EMU was 1.7 per cent in June. Inflation slowed down because in May it stood at 2.0 per cent. The corresponding figure for Finland in June was 1.5 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 June on 17 July.
Source: Consumer Price Index 2002, June. Statistics Finland