14 November 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 accelerated to 1.5 per cent in October
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 1.5 per cent in October. In September it stood at 1.0 per cent. The faster rate of inflation was mostly due to the higher price of liquid fuels from last year's October.
Higher prices of transport, especially of petrol, private cars and public transport, raised consumer prices by most in the year, by good 0.3 percentage points. The rise in prices of health care accounted for an almost equal amount of inflation. Risen hotel and restaurant prices, rent increases and higher prices of cultural and leisure services each increased consumer prices by 0.2 percentage points. The fall in interest rates decreased inflation by 0.4 percentage points.
From September to October, consumer prices rose by 0.3 per cent, which was mainly caused by higher prices of clothes, footwear, cultural and leisure goods and services.
Inflation indicators in Finland, October 2002
>
|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (2000=100) |
104.8 |
1.5% |
0.3% |
|
Cost of Living Index (1951:10=100) |
1,572 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
112.7 |
1.7% |
0.3% |
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 October
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 October. In September it was 2.1 per cent. The corresponding figure for Finland in October was 1.7 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 October on 18 November.
Source: Consumer Price Index 2002, October. Statistics Finland