15 February, 1999
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 0.5 per cent in January
According to Statistics Finland's Consumer Price Index, consumer prices rose by 0.5 per cent in the year to January. From December to January, prices fell by 0.2 per cent.
Inflation continued to slow down
The 0.8 per cent rise in consumer prices in December slowed down to 0.5 per cent in January. This was mainly due to lower loan interest rates and lower prices of fuels and coffee. Higher housing costs upheld inflation, whereas it was curbed by lower housing loan interest rates and lower prices of electricity and light fuel oil.
In the December to January period, consumer prices went down by 0.2 per cent. Winter sales dropped the prices of clothing and footwear, in particular. The prices of package tours, international sea travel and petrol were also lower in January. In contrast, insurance premiums and the prices of used cars, soft drinks and vegetables and root crops were higher.
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Inflation indicators in Finland |
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| Point figure | Change on one year | Change on one month | |
| Consumer Price Index (1995=100), January | 103.2 | 0.5 % | -0.2 % |
| Cost of Living Index (1951:10=100), January | 1 434 | ||
| Harmonised Consumer Price Index of the EU (1996=100), January | 102.4 | 0.5 % | -0.2 % |
| Indicator of Underlying Inflation (1995=100), December |
102.2 |
0.4 % | 0.0 % |
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 are gathered by centralised collection.
Fastest December inflation rate in the EU in Greece
According to the Harmonised Consumer Price Index of the EU, the fastest December inflation rate of 3.7 per cent was recorded in Greece. The corresponding figure for Finland was 0.8 per cent. In Sweden prices remained, on average, unchanged. The averages for the EU Member States and the member countries of the EMU were 1.0 and 0.8 per cent, respectively.
In January, the Finnish point figure on the Harmonised Consumer Price Index (1996=100) stood at 102.4 and the year-on-year change at 0.5 per cent. From December to January, the index fell by 0.2 per cent.
Source: Consumer Price Index 1999, January. Statistics Finland.