15 March, 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 0.8 per cent in February
According to Statistics Finland's Consumer Price Index, consumer prices rose by 0.8 per cent in the year to February. The rate of inflation quickened, for it had been 0.5 per cent in January. From January to February, prices went up by 0.2 per cent.
Consumer prices rose from January to February
Increases in dwelling prices and rents upheld inflation in February. In the year to February, rents went up by 3.5 per cent. Prices of clothing and restaurant and hotel services also increased. Cuts in housing loan and consumer credit interest rates continue to curb inflation.
In the January to February period, consumer prices rose by 0.2 per cent, primarily due to increases in rents and higher prices of clothing. Prices also went up for package tours, petrol and vegetables. Price increases from January to February were curbed by a reduction in the price of coffee and lower interest rates.
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| Inflation indicators in Finland | |||
| Point figure | Change on one year | Change on one month | |
| Consumer Price Index (1995=100), February | 103.4 | 0.8 % | 0.2 % |
| Cost of Living Index (1951:10=100), February | 1 437 | ||
| Harmonised Consumer Price Index of the EU (1996=100), February | 102.8 | 0.9 % | 0.4 % |
| Indicator of Underlying Inflation (1995=100), January |
101.9 |
0.4 % | -0.2 % |
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.
Slowest January inflation rate in the EU in Luxembourg
In January, the Harmonised Consumer Price Index of the EU fell by 1.4 per cent from the previous year in Luxembourg. The corresponding Finnish index rose by 0.5 per cent. Inflation was the fastest in Greece, at 3.5 per cent. The averages for the EU Member States and the member countries of the EMU were 0.9 per cent and 0.8 per cent, respectively.
In February, the Finnish point figure on the Harmonised Consumer Price Index (1996=100) stood at 102.8 and the year-on-year change at 0.9 per cent. From January to February, the index rose by 0.4 per cent.
Source: Consumer Price Index 1999, February. Statistics Finland.