15 October, 1998
Inquiries: Ms Arja Kinnunen +358 9 1734 3479, Ms
Mari Suviranta +358 9 1734 3501
Harmonised Consumer Price Index of the EU: Ms Mari Suviranta +358 9
1734 3501
Director in charge: Mr Jarmo Hyrkkö
Inflation in September 1.3 per cent
According to Statistics Finland's Consumer Price Index, consumer prices rose by 1.3 per cent in the year to September. Inflation was kept down by the abolition of stamp duty on loans, in particular. From August to September, prices rose by 0.3 per cent.
Higher housing, food and transport prices pushed price level up most over the year
Prices of housing, heat and light went up by 2.3 per cent over the year, pushing the price level up by 0.5 percentage points. Higher dwelling prices accounted for 0.3 percentage points of this total.
Prices of food and non-alcoholic beverages went up by 1.0 per cent. Over the year, the price of frozen saithe went up by nearly 40 per cent and that of fish fingers by 15 per cent, whereas the price of coffee fell by 27 per cent.
Public transport prices increased by 5.2 per cent. Package tours were also 9 per cent more expensive than a year ago. Inflation was curbed most in September by the abolition of stamp duty on loans, and lower prices of light fuel oil, petrol and coffee.
In the August to September period, consumer prices rose by 0.3 per cent. This was due to increases in the prices of telephone services, in particular. Prices of mobile telephone calls, domestic air travel, and hotel accommodation also rose, as special summer rates were withdrawn. Furthermore, the prices of light fuel oil and package tours also increased. Price increases were curbed in September by lower prices of petrol and fresh and root vegetables.
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| Inflation indicators in Finland | |||
| Point figure | Change on one year | Change on one month | |
| Consumer Price Index (1995=100), September | 103.7 | 1.3% | 0.3% |
| Cost of Living Index (1951:10=100), September | 1 441 | ||
| Harmonised Consumer Price Index of the EU (1996=100), September | 103.1 | 1.4% | 0.4% |
| Indicator of Underlying Inflation (1995=100), August | 102.4 | 0.9% | 0.1% |
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.
Slowest August inflation rate in the EU in Sweden and in France
According to the Harmonised Consumer Price Index of the EU, the slowest August inflation rate of 0.6 per cent was recorded in Sweden and in France. The corresponding figure for Finland in August was 1.1 per cent and the average for the EU 1.3 per cent. In the member countries of the EMU, the average inflation rate in August was 1.2 per cent.
In September, the Finnish point figure on the Harmonised Consumer Price Index (1996=100) stood at 103.1 and the year-on-year change at 1.4 per cent. From August to September, the index rose by 0.4 per cent.
Source: Consumer Price Index 1998, September. Statistics Finland