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Published: 14 October 2010

Inflation 1.4 per cent in September

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland accelerated slightly, for in September it stood at 1.4 per cent. In August inflation was 1.2 per cent. Inflation was accelerated most by slight rising of food prices.

Inflation indicators in Finland, September 2010

	Point figure	Change on one year	Change on one month
Consumer Price Index 2005=100	110,0	1,4 %	0,4 %
Cost-of-living Index 1951:10=100	1 757
Harmonised Index of Consumer Prices 2005=100	110,8	1,4 %	0,4 %
Harmonised Index of Consumer Prices at Constant Taxes 2005=100	110,5	1,6 %	0,4 %

In September, consumer prices were brought up most from the year before by increases in the prices of liquid fuels and owner-occupied dwellings and real estate. Prices also went up due to increases in the retail prices of alcoholic beverages, electricity prices and rents from September last year. Inflation was curbed most by fallen food prices and interest rates from September last year.

From August to September, consumer prices rose by 0.4 per cent. This was mainly due to the ending of clothing sales, and risen prices of food.

Each mid-month, Statistics Finland interviewers collect altogether 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.

According to preliminary data, inflation in the EMU countries was 1.8 per cent in September

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was 1.8 per cent in September. In August it stood at 1.6 per cent. The corresponding figure for Finland was 1.4 per cent in September.

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 September on 15 October.

The year-on-year change in the Harmonised Index of Consumer Prices at Constant Taxes was 1.6 per cent in September

The year-on-year change in the Harmonised Index of Consumer Prices stood thus at 1.4 per cent in September and that in the Index at Constant Taxes measuring market inflation at 1.6 per cent. Over twelve months, the combined lowering impact on consumer prices from changes in commodity tax rates was thus 0.2 percentage points. The month-on-month change in both the Harmonised Index and the Index of Consumer Prices at Constant Taxes was 0.4 per cent in September. There were no changes in tax rates in September.

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, Kati Heikkinen (09) 1734 3468, khi@stat.fi

Director in charge: Kari Molnar

Consumer price index 2010, September (pdf 243.4 kB)

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Appendix tables

• Appendix table 1. Cost-of-living Index 1951:10=100 (14.10.2010)
• Appendix table 2. Year-on-year changes in the Consumer Price Index (14.10.2010)

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Updated 14.10.2010