Finland Times

Photo - Lehtikuva.

The inflation rate slowed down to 1.4 per cent in June which was 1.6 per cent in May, thanks mainly to the fallen prices of vegetables, according to the Statistics Finland.

 

Nearly two-third of the inflation in June was caused by increases in food prices which went up most due to higher prices of meat, dairy products and fruits.

 

Increases in restaurant and transport costs, as well as in rents, also affected the inflation. The rising of consumer prices was curbed most in June by fallen interest rates and prices of telecommunication services from the year before. From May to June consumer prices fell by 0.1 per cent.

 

However, according to the preliminary data on the Harmonised Index of Consumer Prices, the inflation rate in the euro area accelerated to 1.6 per cent in June while it stood at 1.4 per cent in May. The corresponding figure for Finland was 2.3 per cent in June.

 

The Harmonised Index of Consumer Prices does not include owner-occupancy, games of chance, interests on consumption and other credits, fire insurance on owner-occupied dwellings or 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.

 

Photo - Lehtikuva.

Besides, the year-on-year change in the Harmonised Index of Consumer Prices stood at 2.3 per cent in June and that in the Index at Constant Taxes measuring market inflation at 1.6 per cent.

 

Over twelve months, the combined raising impact on consumer prices from changes in commodity tax rates was thus 0.7 percentage points.

 

The month-on-month change in the Harmonised Index of Consumer Prices was -0.0 per cent and that in the Index at Constant Taxes -0.1 per cent in June. There was no change in tax rates in June.