16 March, 1998
Inquiries: Ms Arja Kinnunen +358 9 1734 3479, Mr
Juhani Pekkarinen +358 9 1734 3476
Harmonised Index of Consumer Prices: Mr Jarko Pasanen +358 9 1734
3423
Director in charge: Mr Jarmo Hyrkkö
Annual increase in consumer prices continues at 1.9 per cent
According to Statistics Finland's Consumer Price Index, consumer prices went up by 1.9 per cent in the year to February, i.e. inflation has now stayed the same for four consecutive months. On average, prices remained unchanged from January to February.
Higher cost of housing and food push price level up most
Over the year, consumer prices went up most due to higher housing and food prices. Housing prices went up by 2.9 per cent in the year, pushing inflation up by good 0.6 percentage points. Higher dwelling prices accounted for 0.5 percentage points of this, but rents and electricity also went up. Prices of food and non-alcoholic beverages went up by 3.2 per cent, and pushed the consumer price level up by 0.5 percentage points, of which one third was due to the higher price of coffee. Consumer price increases were curbed most by lower clothing and footwear prices, and the fact that interest rates remained below last year's level.
From January to February consumer prices remained, on average, unchanged. Higher rents and slightly more expensive food tended to push the price level up most. Price increases were curbed most by the clothing sales which continued in February.
>
| Inflation indicators in Finland | |||
| Point figure | Change on one year | Change on one month | |
| Consumer Price Index (1995=100), February | 102.6 | 1.9 % | 0.0 % |
| Cost of Living Index (1951:10=100), February | 1 426 | ||
| Harmonised Consumer Price Index of the EU (1996=100), February | 101.9 | 1.7 % | 0.0 % |
| Indicator of Underlying Inflation (1990=100), January | 112.7 | 1.4 % | -0.3 % |
Each mid-month, Statistics Finland interviewers collect over 50 000 prices from approximately 2 000 outlets for the Consumer Price Index. In addition, some 600 items of price data are gathered by centralised collection.
Harmonised Consumer Price Index: lowest EU inflation still in Belgium in January
According to the Harmonised Consumer Price Index of the EU, the lowest inflation rate in January, 0.5 per cent, was recorded in Belgium. The corresponding figure for Finland was 1.8 per cent, while the EU average was 1.3 per cent.
In February, the Finnish point figure on the Harmonised Consumer Price Index (1996=100) was 101.9, with the year-on-year change at 1.7 per cent. From January to February the index remained unchanged.
Source: Consumer Price Index 1998, February. Statistics Finland