Home > Statistics > Consumer price index > 2008 > August > Inflation accelerated to 4.7 per cent in August

Published: 15 September 2008

Inflation accelerated to 4.7 per cent in August

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland accelerated to 4.7 per cent in August. In July it was 4.4 per cent. Inflation was pushed up especially by higher health care fees as well as the rise in phone call charges and the prices of food from the year before. The rise in children's day care charges also accelerated inflation.

Consumer prices were pushed up most in the year by increases in the prices of housing, food and automotive fuels. The most important reason for risen housing costs was the increase in energy prices, rents and interest rates. The cost of food went up mostly due to risen prices of dairy products, but the prices of cereal products and meat increased as well. Inflation was also pushed up by increases in the prices of restaurant and café services, the retail prices of alcoholic beverages as well as the prices of culture and recreation services from last year's August. The rise in consumer prices was curbed most in August by fallen prices of passenger cars, entertainment electronics and computers.

From July to August consumer prices went up by 0.4 per cent, primarily because clothing sales came to an end, and health care fees and interest rates rose.

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, August 2008

	Point figure	Year-on-year change	Month-on-month change
Consumer Price Index 2005=100	109.1	4.7 %	0.4%
Cost-of-living Index 1951:10=100	1 742
Harmonised Index of Consumer Prices 2005=100	107.5	4.6 %	0.3 %

According to preliminary data, inflation in the EMU countries was 3.8 per cent in August

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was 3.8 per cent in August. In July it was 4.0 per cent. The corresponding figure for Finland was 4.6 per cent in August.

The Harmonised Index of Consumer Prices does not include owner-occupied housing, games of chance, interests of consumption and other credits or levies such as the vehicle tax. The consumption items included in the Harmonised Index of Consumer Prices as well the rules governing its compilation have been defined in EU regulations.

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 August on 16 September.

Source: Consumer Price Index 2008, August. Statistics Finland

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

Director in charge: Mr Kari Molnar

Tables

Tables in databases

Pick the data you need into tables, view the data as graphs, or download the data for your use.

• Database tables and their variables
• Archived tables

Appendix tables

• Cost-of-living Index 1951:10=100 (15.9.2008)

---

Last updated 15.9.2008