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Published: 15 March 2010

Inflation 0.1 per cent in February

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland rose to 0.1 per cent in February. In January it was still -0.2 per cent. Consumer prices started to rise mainly because the falling of interest rates slowed down and the prices of single-family houses went up.

In February consumer prices were pushed up most year-on-year by risen prices of liquid fuels, owner-occupied dwellings and real estate, and restaurant and cáfe services. The rising of prices was also influenced by increases in the retail prices of alcoholic beverages and rents. Inflation was curbed most by fallen interest rates and food prices from the year before.

From January to February, consumer prices went up by 0.4 per cent, This was mainly due to the gradual ending of clothing sales, and risen prices of single-family houses and vegetables.

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, February 2010

	Point figure	Year-on-year change	Month-on-month change
Consumer Price Index 2005=100	108.7	0.1%	0.4%
Cost-of-living Index 1951:10=100	1 735
Harmonised Index of Consumer Prices 2005=100	109.5	1.3%	0.4%
Harmonised Consumer Price Index at Constant Taxes 2005=100	109.5	1.7%	0.4%

According to preliminary data, inflation in the EMU countries was 0.9 per cent in February

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 February. In January it was 1.0 per cent. The corresponding figure for Finland in February was 1.3 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 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 February on 16 March.

The year-on-year change in the Harmonised Index of Consumer Prices at Constant Taxes was 1.7 per cent in February

The year-on-year change in the Harmonised Index of Consumer Prices stood at 1.3 per cent in February and that in the Index at Constant Taxes measuring market price changes at 1.7 per cent. Over twelve months, the lowering impact of changes in commodity tax rates was thus -0.4 percentage points. The month-on- month change in both the Harmonised Index of Consumer Prices and the Index of Consumer Prices at Constant Taxes was 0.4 per cent in February. No commodity tax changes occurred in February.

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, February. 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, February (pdf 256.5 kB)

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Appendix tables

• Cost-of-living Index 1951:10=100 (15.3.2010)

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Last updated 15.3.2010