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Home BUSINESSInflation remains 1.2 % in September
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Tue, 15 Oct, 2013 12:07:47 AM
FTimes Report, October 15
Photo - Lehtikuva.
The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland was the same 1.2 per cent in September as in August.
 
In September, consumer prices were pushed up most in the year by increases in prices of food, said a press release on Monday.
 
Food prices went up particularly due to higher prices of meat and dairy products. Increases in restaurant prices and prices of prescription medicines, as well as increases in rents also affected inflation.
 
The rising of consumer prices was curbed most in September by fallen interest rates and fallen prices of electronics, telecommunication services and transport fuels from the year before.
 
From August to September, consumer prices rose by 0.4 per cent, which was principally due to the ending of clothes sales.
 
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, according the release.
 
According to preliminary data, inflation in the euro area slowed down to 1.1 per cent in September.
 
According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the euro area slowed down to 1.1 per cent in September.
 
In August it stood at 1.3 per cent. The corresponding figure for Finland in September was 1.8 per cent, said the press release.
 
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.
 
Eurostat’s estimate of inflation in the euro area is based on preliminary data from the Member States and on the price development of energy.
 
Eurostat will publish detailed data on Harmonised Indices of Consumer Prices for September on 16 October. Information of inflation in EU countries is available on Eurostat homepage
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