Further fall in prices in August

Consumer prices fell in August for the third consecutive month. From July to August they fell by 0.2 per cent. In the year to August consumer prices have nevertheless risen by 0.4 per cent. This appears from Statistics Finland's Consumer Price Index.

Price development in the year to August

The highest price increases this year have occurred in beverages and tobacco (up by 2.7 per cent) and in health care (up by 1.8 per cent). Examined by commodity, inflation was boosted most by more expensive petrol, cigarettes and electricity, as well as by higher rents and lottery costs. The fall in interest rates and cheaper second-hand cars in turn helped hold down the rise in consumer prices. Food was 1.5 per cent cheaper than a year ago.

Price development from July to August

Consumer prices fell from July to August by 0.2 per cent. This was attributable above all to the fall in the price of food due to cheaper seasonal products. The month-on-month change in the consumer price index was also lowered by the fall in the price of package tours, second-hand cars and petrol from July to August, whereas the end of seasonal clothing sales raised consumer prices most.

The Consumer Price Index 1990=100 was 112.6 in August.
The Cost of Living Index 1951:10=100 was 1 397.

The EU Harmonised Consumer Price Index

The point figure of the interim harmonised consumer price index of the EU 1994=100 was 102.1 in August and the year-on-year change 1.0 per cent. In July the change on one year in Finland was 1.1 per cent. In the EU countries, the lowest inflation in July, measured by the harmonised consumer price index, was in Sweden, at 1.0 per cent. The average rise in prices in Member States was 2.6 per cent in July.

Underlying inflation 0.0 per cent in July

The point figure of the Bank of Finland's indicator of underlying inflation 1990=100 was 111.5 in July, and the year-on-year change 0.0 per cent.

Source: Consumer Price Index, August 1996
Further information: Arja Kinnunen, tel. +358 0 1734 3479, or
Juhani Pekkarinen +358 0 1734 3476.