Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Ms
Mari Ylä-Jarkko +358 9 1734 3310
Director in charge: Mr Kari Molnar
Inflation 0.7 per cent in September
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 0.7 per cent in September. In August it stood at 0.6 per cent.
Higher price of electricity put consumer prices up by most in year, by good 0.2 percentage points. The effect on inflation from risen hotel and restaurant prices amounted to just short of 0.2 percentage points, and the impacts from rent increases and higher vegetable prices were of almost similar magnitude. Cuts in interest rates again curbed inflation by 0.7 percentage points, and reduced prices of cars by good 0.2 percentage points. Lower prices of meat also kept consumer price increases in check.
From August to September, consumer prices rose by 0.4 per cent, as prices of fresh vegetables went up and clothing sales finished.
Inflation indicators in Finland, September 2003
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| Point figure | Change on one year | Change on one month | |
| Consumer Price Index (2000=100) | 105.2 | 0.7% | 0.4% |
| Cost of Living Index (1951:10=100) | 1,579 | ||
| Harmonised Index of Consumer Prices (1996=100) | 113.8 | 1.2% | 0.5% |
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 2.1 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 2.1 per cent in September. In August, it stood at 2.1 per cent. The corresponding figure for Finland in September was 1.2 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 2003, September. Statistics Finland