Home > Statistics > Consumer price index > 2008 > January > Inflation accelerated to 3.8 per cent in January

Published: 14 February 2008

Inflation accelerated to 3.8 per cent in January

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland accelerated to 3.8 per cent in January. In December it was 2.6 per cent. Inflation gathered speed especially due to increases in the prices of food and liquid fuels. The rate of inflation was last this high in 2000.

Consumer prices were pushed up most in the year by increases in the prices of food and liquid fuels. The cost of food went up mainly due to risen prices of milk and cereal products, and meat. Risen interest rates, increases in the prices of restaurant and café services, and retail prices of alcoholic beverages, as well as higher prices of owner-occupied flats and real estate also had an impact on inflation. By contrast, the rise in consumer prices was curbed most in January by fallen prices of passenger cars, entertainment electronics and computers.

From December to January consumer prices went up by one per cent, above all due to risen prices of food and liquid fuels.

Each mid-month, Statistics Finland interviewers collect around 50,000 prices on 497 commodities from approximately 2,700 outlets for the Consumer Price Index. In addition, some 1,000 items of price data are gathered by centralised collection.

Finland's inflation indicators, January 2008

	Point figure	Year-on-year change	Monthly change
Consumer Price Index 2005=100	106.2	3.8%	1.0%
Cost-of-living Index 1951:10=100	1 695
Harmonised Index of Consumer Prices 2005=100	104.8	3.5%	1.2%

According to preliminary data, inflation in the EMU countries was 3.2 per cent in January

According to the preliminary data of the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was 3.2 per cent in January. In December it was 3.1 per cent. The corresponding figure for Finland was 3.5 per cent in January.

Eurostat's estimate of inflation in the EMU area is based on preliminary data from EMU Member States and on the price development of energy. Eurostat will publish detailed data on Harmonised Indices of Consumer Prices for January on 29 February.

A link on the left side navigation bar on the Consumer Price Index home page leads to Eurostat's Harmonised Indices of Consumer Prices page.

Source: Consumer Price Index 2008, January. Statistics Finland

Inquiries: Mr Juhani Pekkarinen +358 9 1734 3476, Ms Kati Heikkinen +358 9 1734 3472,
Harmonised Index of Consumer Prices: Ms Christina Telasuo +358 9 1734 2951
khi.tilastokeskus@stat.fi

Director in charge: Mr Kari Molnar

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Last updated 14.2.2008