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Published: 14 January 2010

Inflation -0.5 per cent in December

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland was -0.5 per cent in December. In November it stood at -0.9 per cent. The decrease in consumer prices kept slowing down mainly because of an increase in the price of fuels from December of the previous year. In 2009 the average inflation rate was 0.0 per cent.

In December, consumer prices were brought down most from the year before by reductions in interest rates. Decreases in food prices and telephone call charges also brought inflation down. By contrast, consumer prices were pushed up most by increases in the price of fuels, retail prices of alcoholic beverages, prices of restaurant and café services, risen rents and tobacco prices from the year before.

From November to December, consumer prices rose by 0.1 per cent.

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 2009

	Point figure	Year-on-year change	Month-on-month change
Consumer Price Index 2005=100	108.1	-0.5 %	0.1 %
Cost-of-living Index 1951:10=100	1 726
Harmonised Index of Consumer Prices 2005=100	109.1	1.8 %	0.2 %
Harmonised Consumer Price Index at Constant Taxes 2005=100	109.1	2.0 %	0.2 %

According to preliminary data, inflation in the EMU countries was 0.9 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 0.9 per cent in December. In November it stood at 0.5 per cent. The corresponding figure for Finland was 1.8 per cent in December.

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

The year-on-year change in the Harmonised Index of Consumer Prices at Constant Taxes was 2.0 per cent in December

The year-on-year change in the Harmonised Index of Consumer Prices stood at 1.8 per cent in December and that in the index at constant taxes measuring market price changes at 2.0 per cent. From December 2008, the lowering impact of changes in commodity tax rates was thus 0.2 percentage units. The month-on- month change in both the Harmonised Index and the Index of Consumer Prices at Constant Taxes was 0.2 per cent in December. In December, no changes were made in tax rates.

Statistics Finland started to publish a Harmonised Index of Consumer Prices at Constant Taxes in June 2009. In the Index at Constant Taxes the impact of the changes in the value added tax and other commodity taxes on inflation has been eliminated by keeping the taxes constant relative to the index base period. The index measures market inflation or the change in prices caused by reasons other than changes in commodity taxes. The price impact of the tax changes is obtained by comparing the development of the Harmonised Index of Consumer Prices and the Index at Constant Taxes.

Source: Consumer Price Index 2009, December. Statistics Finland

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

Director in charge: Kari Molnar

Consumer price index 2009, December (pdf 257.5 kB)

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• Cost-of-living Index 1951:10=100 (14.1.2010)

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Last updated 14.1.2010