14 October 2002
Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Mr
Toni Udd +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 1.0 per cent in September
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 1.0 per cent in September. In August it stood at 1.4 per cent. The lower rate of inflation was mostly due to the slower rise in prices of food, telephone charges and cultural and leisure services from last year.
Higher prices of transport, especially of passenger cars and public transport, raised consumer prices by good 0.2 percentage points in the year. The rise in prices of health care accounted for an equal amount of inflation. Higher prices of cultural and leisure services, risen hotel and restaurant prices and rent increases each had an almost equivalent effect. The fall in interest rates decreased inflation by 0.5 percentage points. Inflation was also sustained by lower prices of clothes and fresh fruit compared to the year before.
From August to September, consumer prices rose by 0.4 per cent, which was mainly caused by higher prices of clothes and footwear.
Inflation indicators in Finland, September 2002
>
|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (2000=100) |
104.5 |
1.0% |
0.4% |
|
Cost of Living Index (1951:10=100) |
1,568 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
112.4 |
1.4% |
0.4% |
Each mid-month, Statistics Finland interviewers collect around 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 2.2 per cent in September
According to preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the member states of the EMU was 2.2 per cent in September. In August it was 2.1 per cent. The corresponding figure for Finland in September was 1.4 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 September on 16 October.
Source: Consumer Price Index 2002, September. Statistics Finland