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Published: 13 April 2006

According to preliminary data, inflation in the EMU countries 2.2 per cent in March

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the member states of the EMU was 2.2 per cent in March. In February it was 2.3 per cent. The corresponding figure for Finland was 1.2 per cent in March.

Eurostat's estimate on inflation in the EMU area is based on preliminary data published by certain member states and on the price development of energy. Eurostat will publish detailed data on the Harmonised Indices of Consumer Prices for March on 20th April.

Revision of the Finnish Harmonised Index of Consumer Prices for January and February 2006

The Harmonised Index of Consumer Prices is based on the same commodity basket and weighting structure as Finland's National Consumer Price Index. The commodity basket and weighting structure of the National Consumer Price Index were revised as of January 2006. When revising the national index, retrospective index figures for the year 2005 were compiled. The index figures and year-on-year changes of the current National CPI are compiled on the basis of this revised basket and retrospective index figures. The Harmonised Indices of Consumer Prices for January and February 2006, as published earlier by Statistics Finland, were also compiled using the same method as the National CPI, i.e. using the revised weighting structure and commodity basket as of January 2005.

However, EUROSTAT, the Statistical Office of the European Communities, recommended to Statistics Finland to compile the HICP using so-called chain-linking. As a result, the revised basket will be used for the compilation of the Finnish Harmonised Index only from January 2006. This type of chaining method is in use in some Finnish national indices, for example, in the Cost of Living Index 1951=100, which is used predominantly for indexation of private contracts.

Due to the adoption of the EUROSTAT recommendation, the previously published inflation figures of the Finnish Harmonised Index of Consumer Prices for January and February 2006 are revised as follows: January 1,2 per cent (previously 0,6 per cent) and February 1,3 per cent (previously 0,6 per cent).

Source: Consumer Price Index 2006, March. Statistics Finland

Inquiries: Mr Timo Koskimäki +358 9 1734 3479, khi.tilastokeskus@stat.fi

Director in charge: Kari Molnar

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Last updated 13.4.2006