15 July, 1999
Inquiries: Ms Mari Suviranta +358 9 1734 3501, Mr
Anssi Vuorio +358 9 1734 2934
Harmonised Consumer Price Index of the EU: Ms Mari Suviranta +358 9
1734 3501
Director in charge: Mr Jarmo Hyrkkö
Consumer prices up by 1.1 per cent in June
According to Statistics Finland, the year-on-year change of consumer prices, i.e. the inflation, was 1.1 per cent in June. The rate of inflation slowed down slightly, as it was 1.4 per cent in May.
Lower interest rates continue to restrain inflation
In June, increase in consumer prices was curbed by falling housing loan interest rates and lower interests on consumer credits and reduced price of electricity. In contrast, higher prices of dwellings, rents and petrol upheld inflation. Of foodstuffs, the price of potatoes went up, while that of coffee and tomatoes went down.
From May to June, consumer prices fell by 0.1 per cent, primarily due to lower interest rates and reduced price of tomatoes.
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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), June |
104.6 |
1.1% |
-0.1% |
|
Cost of Living Index (1951:10=100), June |
1,454 |
||
|
Harmonised Consumer Price Index of the EU (1996=100), June |
104.2 |
1.2% |
0.0% |
|
Indicator of Underlying Inflation (1995=100), May |
103.8 |
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.
EU inflation rate 1.1 per cent in May
According to the Harmonised Consumer Price Index of the EU, the inflation in the EU Member States stood at 1.1 per cent in May. The average for the member countries of the EMU was 1.0 per cent. Inflation was fastest in Ireland, where prices rose by 2.3 per cent in the year to May. The corresponding rate for Finland was 1.4 per cent.
In June, the Finnish point figure on the Harmonised Consumer Price Index (1996=100) stood at 104.2 and the year-on-year change at 1.2 per cent. From May to June, the index remained unchanged.
Source: Consumer Price Index 1999, June. Statistics Finland.