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Published: 14 January 2009

Inflation 3.5 per cent in December

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland was 3.5 per cent in December. In November it stood at 3.6 per cent. The average inflation rate last year was 4.1 per cent.

Consumer prices were pushed up most in the year by increases in the prices of food and housing. Food prices went up primarily due to risen prices of dairy products, meat and grain products. Housing costs were pushed up by rises in rents, electricity prices and interest rates. Inflation was also influenced by risen prices of restaurant and café services, and increases in the retail prices of alcoholic beverages from December of the year before. The rising of consumer prices was curbed most in December by fallen prices of liquid fuels, passenger cars, entertainment electronics and computers.

From November to December, consumer prices fell by 0.3 per cent. This was mainly due to fallen prices of 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, December 2008

	Point figure	Year-on-year change	Month-on-month change
Consumer Price Index 2005=100	108.7	3.5%	-0.3%
Cost-of-living Index 1951:10=100	1 736
Harmonised Index of Consumer Prices 2005=100	107.1	3.4%	-0.3%

According to preliminary data, inflation in the EMU countries was 1.6 per cent in December

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was 1.6 per cent in December. In November it stood at 2.1 per cent. The corresponding figure for Finland in December was 3.4 per cent.

The Harmonised Index of Consumer Prices does not include owner-occupancy, games of chance, interests on consumption and other credits or levies such as vehicle tax. The consumption items included in the Harmonised Index of Consumer Prices as well as 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 December on 15 January.

Source: Consumer Price Index 2008, December. Statistics Finland

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

Director in charge: Mr Kari Molnar

Consumer price index 2008, December (pdf 226.2 kB)

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Appendix tables

• Cost-of-living Index 1951:10=100 (14.1.2009)

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Last updated 14.1.2009