June inflation 0.4 per cent

The rise in consumer prices over the year ending in June was 0.4 per cent. Contributing most to this inflation, i.e. 0.3 percentage units, was the rise in traffic costs, which was mainly due to the 12.9 per cent rise in the price of gasoline over the course of the year. The upward trend in traffic costs was checked by the fall in prices of passanger cars.

The biggest price increases in the various commodity groups over the year were in beverages and tobacco, with 2.6 per cent. The rate of inflation was also accelerated by the rise in the price of electricity and lottery expenditure, and higher rents.

Inflation was checked most, in total by 0.6 percentage points, by the lowering of the interest rate. Food was 1.7 per cent cheaper in June than a year before, reducing the inflation rate by a good 0.2 percentage points. A packet of coffee cost 17 per cent less than a year before, potatoes 32 and onions 26 per cent less. The rise in consumer prices was further restrained by the drop in the prices of new and used cars and local telephone calls.

No changes in prices from May to June

No change was recorded in prices between May and June. Consumer prices were raised most from May to June by the 2.5 per cent rise in housing maintenance costs and the rise in the price of package tours, international flights and sea travel.

The fall in the interest rate and discount sales of clothes curtailed the rise in prices from May to June. Used cars and light fuel oil became cheaper, as did tomatoes and paprikas.

The Consumer Price Index 1990=100 was 112.9 in June. The Cost of Living Index 1951:10=100 was 1 401.

Harmonised Consumer Price Index of the EU The interim harmonised consumer price index of the EU (1994=100) was 102.5 in June, corresponding to an annual change of 1.2 per cent. In May the annual change for Finland was 1.4 per cent, the same figure as for Germany. Sweden had the lowest inflation, with 1.2 per cent. The average rate of inflation for the EU countries in May was 2.7 per cent.

Underlying inflation 0.2 per cent in May The underlying inflation indicator 1990=100 was 111.7 in May and the annual change 0.2 per cent.

Source: Consumer Price Index, June 1996
Further information: Ilkka Lehtinen, tel. +358 0 1734 3478, or
Juhani Pekkarinen, tel. +358 0 1734 3476.