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Published: 14 August 2006

Inflation 1.9 per cent in July

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland was 1.9 per cent in July. In June it was 1.7 per cent. The slight acceleration of inflation was mainly due to rise in interest rates.

Higher prices of housing pushed up consumer prices by one percentage point in the year: dwelling prices, rents and housing loan interest rates went up. Increases in fuel, food and restaurant prices also had an impact on inflation. Inflation was curbed by lower prices of telephone call charges and entertainment electronics and data processing equipment from the year before.

From June to July consumer prices fell by 0.3 per cent, which was mainly due to clothes sales.

Each mid-month, Statistics Finland interviewers collect around 55,000 prices on 497 commodities from approximately 3,500 outlets for the Consumer Price Index. In addition, some 1,000 items of price data are gathered by centralised collection.

Year-on-year change in consumer prices 1/2001 - 7/2006

Index point figures are available here (only in Finnish): Consumer Price Index 2005=100

Source: Consumer Price Index 2006, July. Statistics Finland

Inquiries: Mr Juhani Pekkarinen +358 9 1734 3476, Mr Jari Harjunpää +358 9 1734 3472, khi.tilastokeskus@stat.fi

Director in charge: Mr Kari Molnar

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Last updated 14.8.2006