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Published: 14 May 2010

Inflation 0.9 per cent in April

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland rose to 0.9 per cent in April. In March it stood at 0.6 per cent. Inflation was accelerated above all by a slower fall in interest rates.

Inflation indicators in Finland, April 2010

	Point figure	Change on one year	Change on one month
Consumer Price Index 2005=100	109,5	0,9 %	0,3 %
Cost-of-living Index 1951:10=100	1 749
Harmonised Index of Consumer Prices 2005=100	110,5	1,6 %	0,3 %
Harmonised Index of Consumer Prices at Constant Taxes 2005=100	110,5	2,0 %	0,3 %

Consumer prices were pushed up in April most year-on-year by risen prices of liquid fuels. The rising of prices was also influenced by price increases in owner-occupied dwellings and real estate, restaurant and cafe services, retail prices of alcoholic beverages and risen rents. Inflation was curbed most by fallen interest rates and food prices from last year’s April.

From March to April consumer prices rose by 0.3 per cent. This was mostly due to higher 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.

Prices of food rose by 2.9 per cent from last year’s October

The value added tax on food was reduced in last year’s October by five percentage points. The prices of food then fell by 5.6 per cent, i.e. clearly more than the impact of the tax reduction. In six months, from October to April 2010, prices of food rose by 2.9 per cent. This was almost entirely caused by higher prices of seasonal products, above all vegetables, but also prices of fruit, fish and non-alcoholic beverages increased in the same period. Prices of other food groups either fell or remained unchanged.

Over 20,000 of all the prices collected by interviewers are food prices. The prices are collected from 122 outlets concerning 148 food items.

According to preliminary data, inflation in the EMU countries was 1.5 per cent in April

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was 1.5 per cent in April. In March it stood at 1.4 per cent. The corresponding figure for Finland was also 1.6 per cent in April.

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 April on 18 May.

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

The year-on-year change in the Harmonised Index of Consumer Prices stood thus at 1.6 per cent in April and that in the Index at Constant Taxes measuring market price changes at 2.0 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 and the Index of Consumer Prices at Constant Taxes was 0.3 per cent in April. No commodity tax changes occurred in April.

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, Statistics Finland

Inquiries: Juhani Pekkarinen (09) 1734 3476, Christina Telasuo (09) 1734 3472, khi@stat.fi

Director in charge: Kari Molnar

Consumer price index 2010, April (pdf 245.4 kB)

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Appendix tables

• Cost-of-living Index 1951:10=100 (14.5.2010)
• Year-on-year changes in the Consumer Price Index (14.5.2010)

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Updated 14.5.2010