Finland Times

In October, consumer prices, i.e inflation were again pushed up most in the year by increased prices of food. Food prices went up above all due to higher prices of meat and dairy products. Increases in restaurant prices and rents also had an effect on inflation.

The rising of consumer prices was curbed most in October by fallen interest rates and lower prices of transport fuels and entertainment electronics from the year before.

From September to October, 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.  According to preliminary data, inflation in the euro area slowed down to 0.7 per cent in October. In September it stood at 1.1 per cent. The corresponding figure for Finland was 1.7 per cent in October, according to the Finland Statistics’ data. 

The year-on-year change in the Harmonised Index of Consumer Prices at Constant Taxes was 1.0 per cent in October. 

The year-on-year change in the Harmonised Index of Consumer Prices stood at 1.7 per cent in October and that in the Index at Constant Taxes measuring market inflation at 1.0 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 both the Harmonised Index of Consumer Prices and in the Index at Constant Taxes was 0.1 per cent in October, said the statistics.