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Published: 15 February 2010

Inflation -0.2 per cent in January

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland was -0.2 per cent in January. In December it stood at -0.5 per cent. The falling of consumer prices was held back mainly due to slowing decline in interest rates and risen prices of liquid fuels.

In January the year-on-year change in consumer prices was brought down most by fallen interest rates and food prices. Inflation was also curbed by reductions in the prices of telephone call charges. By contrast, consumer prices were pushed up most by increases in the prices of liquid fuels, rents, retail prices of alcoholic beverages, and prices of restaurant and café services from the year before.

From December to January, 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, January 2010

	Point figure	Year-on-year change	Month-on-month change
Consumer Price Index 2005=100	108.3	-0.2%	0.1%
Cost-of-living Index 1951:10=100	1 729
Harmonised Index of Consumer Prices 2005=100	109.1	1.6%	0.1%
Harmonised Consumer Price Index at Constant Taxes 2005=100	109.1	2.0%	0.0%

According to preliminary data, inflation in the EMU countries was 1.0 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 1.0 per cent in January. In December it stood at 0.9 per cent. The corresponding figure for Finland in January was 1.6 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 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 January on the 26th of February.

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

The year-on-year change in the Harmonised Index of Consumer Prices stood at 1.6 per cent in January and that in the Index at Constant Taxes measuring market price changes at 2.0 per cent. From January 2009, the lowering impact of changes in commodity tax rates was thus 0.4 percentage points. The month-on-month change in the Harmonised Index of Consumer Prices was 0.1 per cent and that in the Index at Constant Taxes 0.0 per cent in January.

Tobacco tax was raised by an average 5 per cent in January. In the Harmonised Index of Consumer Prices the price of tobacco went up by 4.6 per cent and in the Index at Constant Taxes by 0.5 per cent. The risen tax put the prices of tobacco up by 4.1 per cent from December to January.

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 2010, January. Statistics Finland

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

Director in charge: Kari Molnar

Consumer price index 2010, January (pdf 297.9 kB)

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• Cost-of-living Index 1951:10=100 (15.2.2010)

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Last updated 15.2.2010