Home > Statistics > Consumer price index > 2008 > May > Inflation accelerated to 4.2 per cent in May

Published: 13 June 2008

Inflation accelerated to 4.2 per cent in May

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland was 4.2 per cent in May. Increases in the prices of dairy products, vegetables and liquid fuels put inflation up most from April when it stood at 3.5 per cent.

Over the year, consumer prices were pushed up most by risen prices of housing and food. Housing costs went up primarily due to risen energy prices, rents and interest rates. The risen cost of food was due to increases in the prices of dairy and cereal products, and meat. Inflation was also pushed up by increases in the prices of automotive fuels, restaurant and café services and retail prices of alcoholic beverages from last year's May. The rise in consumer prices was curbed most in May by fallen prices of passenger cars, entertainment electronics and computers.

From April to May, consumer prices went up by 0.5 per cent, primarily due to increases in the prices of fuel and dairy products.

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, May 2008

	Point figure	Year-on-year change	Month-on-month change
Consumer Price Index 2005=100	108.4	4.2%	0.5%
Cost-of-living Index 1951:10=100	1 730
Harmonised Index of Consumer Prices 2005=100	107.1	4.1%	0.5%

According to preliminary data, inflation in the EMU countries was 3.6 per cent in May

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was 3.6 per cent in April. In April it was 3.3 per cent. The corresponding figure for Finland was 4.1 per cent in May.

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 May on 16 June.

Source: Consumer Price Index 2008, May. Statistics Finland

Inquiries: Mr Juhani Pekkarinen +358 9 1734 3476, Ms Kati Heikkinen +358 9 1734 3472,
khi.tilastokeskus@stat.fi

Director in charge: Mr Kari Molnar

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• Cost-of-living Index 1951:10=100 (13.6.2008)

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Last updated 13.6.2008