Home > Statistics > Consumer price index > 2009 > January > Inflation slowed down to 2.2 per cent in January

Published: 13 February 2009

Inflation slowed down to 2.2 per cent in January

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland slowed down to 2.2 per cent in January. In December it still stood at 3.5 per cent. Inflation slowed down as the rising of food prices moderated, and interest rates and the prices of automotive fuel fell.

Although the rising of food prices moderated slightly, almost half of the inflation in January was still caused by year-on-year increases in food prices. The cost of food went up primarily due to risen prices of dairy products, meat, vegetables and grain products. Inflation was also pushed up by increases in the retail prices of alcoholic beverages, risen prices of tobacco and restaurant and café services, and rent increases. The rising of consumer prices was curbed most in January by fallen prices of liquid fuels, used passenger cars, entertainment electronics and computers.

From December to January, consumer prices fell by 0.2 per cent, mainly due to clothing sales and reductions in interest rates.

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 2009

	Point figure	Year-on-year change	Month-on-month change
Consumer Price Index 2005=100	108.5	2.2 %	-0.2%
Cost-of-living Index 1951:10=100	1 732
Harmonised Index of Consumer Prices 2005=100	107.4	2.5 %	0.3%

According to preliminary data, inflation in the EMU countries was 1.1 per cent in January

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was 1.1 per cent in January. In December it stood at 1.6 per cent. The corresponding figure for Finland in January was 2.5 per cent.

The Harmonised Index of Consumer Prices does not include owner-occupancy, games of chance, interests on consumption and other credits or asset transfer and 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 January on 27 February.

Source: Consumer Price Index 2009, January. 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 2009, January (pdf 240.4 kB)

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Appendix tables

• Cost-of-living Index 1951:10=100 (13.2.2009)

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Last updated 13.2.2009