Thu, 20 Feb, 2014 03:58:52 AM FTimes Report, February 20  Photo - Lehtikuva. The rate of inflation has remained steady at 1.6% in January in Finland. At the same time, the rate in the Euro area was 0.7%.
Statistics Finland has revised the commodity basket and the weight structure for consumer price indices from the beginning of January.
In January, consumer prices were pushed up mostly by increases in the prices of food and housing. Higher food prices were triggered by shooting prices of dairy products and vegetables. Rent increases were, in turn, the main reason for increased housing costs.
The rose in consumer prices was curbed from the year before though reductions in the prices of entertainment electronics and clothing, as well as a decrease in housing loan interest rates. From December to January, consumer prices fell by 0.1%.
File Picture of Euro note. Photo - Lehtikuva. According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the Euro area was 0.7%. In December, it stood at 0.8%. The corresponding figure for Finland in January was 1.9%.
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 the 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.
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