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Tue, 16 Apr, 2013 02:21:01 AM
FTimes Report, April 16


Photo Lehtikuva
The inflation in consumer prices reached 1.7 per cent in March due to a price spiral of various products and services, particularly food and transportation, said the Statistics Finland.
Food prices went up due mainly to higher prices of meat, fruits, and dairy products while transport fares increased primarily because of the high tax imposed on vehicles, said a Statistics Finland report released on Monday.
The price hike of restaurant and café services, rents, and tobacco also had a negative impact on the inflation rate.
The rise in consumer goods prices, however, was dealt with almost entirely in March by reduced interest rates and the prices of telecommunications services.
Statistics Finland interviewers in every mid-month gather around 50,000 prices of 486 categories of commodities from approximately 2,700 sales outlets to prepare the Consumer Price Index.
In addition, the price data of some 1,000 items are gathered through a centralised collection system, the report said.
Photo Lehtikuva
Eurostat, the European Union statistics agency, reported that the year-on-year Eurozone inflation stood at 1.7 per cent in March. The corresponding figure with Finland was 2.5 per cent.
Eurozone inflation is calculated as per the Harmonised Index of Consumer Prices. The index does not include owner-occupancy, games of chance, interests on consumption, and other credits, fire insurance on owner-occupied dwellings, or vehicle taxes.
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