Inflation 

Updated: 14.5.2013 - Next update: 14.6.2013
   
 
 
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Inflation slowed down to 1.5 per cent in April

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland slowed down to 1.5 per cent in April. In March it stood at 1.7 per cent. Inflation slowed down primarily because the effect of the rise in the vehicle tax a year ago faded and prices of energy lowered. Starting from January, the Consumer Price Index is a chain index, where the commodity basket and weights are updated annually.

In April, consumer prices were pushed up most from the previous year by risen prices of food and restaurant and café services. Food prices went up mostly due to higher prices of meat, fruit, vegetables and dairy products. The rise in restaurant prices was caused above all by risen prices of alcoholic beverages and meals at workplace canteen. Increases in rents and higher price of tobacco also had an effect on inflation. The rising of consumer prices was curbed most in April by fallen interest rates and prices of telecommunication services from the year before. From March to April, consumer prices rose by 0.1 per cent.

Each mid-month, Statistics Finland's interviewers collect altogether around 50,000 prices on 486 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. The Consumer Price Index 2010=100 Handbook for Users is available on the CPI-home page (www.stat.fi).

Statistical release

Source:
Statistics Finland / Consumer price index

Description of indicator

The Consumer Price Index is used as a general measure of inflation.

The Consumer Price Index describes the price development of goods and services purchased in Finland by households resident in Finland. The Consumer Price Index is calculated with a method in which the prices of different commodities are weighed together with their shares of consumption.

Consumer price indices that are reviewed at intervals of a fixed number of years are suitable for short-term examinations. The Cost-of-living Index is a long time series calculated from the latest Consumer Price Index and its development, therefore, follows the Consumer Price Index. Many rents, such as those on dwellings, business premises or land, are usually tied to the Cost-of-living Index.