Consumer Price Index

Description

The consumer price index is the most common measure of inflation. The consumer price index describes the price development of products and services purchased by households in Finland. The inflation of a given month is usually expressed as a year-on-year change, i.e. as the change in price from the corresponding month the previous year. It comprises the price development of the overall index, commodity groups, and 483 commodities.

The Cost-of-living Index 1951:10=100 is a long time series calculated by chaining from the latest Consumer Price Index (currently Consumer Price Index 2005=100) and its development, therefore, follows the Consumer Price Index.

In addition to their national indices, the Member States of the European Union also produce a Harmonised Index of Consumer Prices. The development of the Harmonised Index of Consumer Prices deviates from that of the national consumer price indices, because it includes fewer commodities.The Harmonised Index of Consumer Prices does not include owner-occupancy, games of chance, interests on consumption and other credits or asset transfer and vehicle tax. It covers 87.3 per cent of the national consumer price index’s consumption expenditure.

Target group

Each mid-month, usually between the 10th and the 20th day of the month, Statistics Finland’s interviewers collect either face-to-face or by telephone around 50,000 prices from approximately 2,700 outlets for the indices. The outlets included in the collection are drawn partly by random sampling and partly by judicious sampling. In addition, the price data on 89 commodities are gathered by centralised collection by Statistics Finland.

Data protection

The Statistics Act obliges Statistics Finland to treat the provided data as confidential. The collected data are used only for statistical or research purposes. Data on an individual outlet are confidential and are not released in identifiable form to parties outside Statistics Finland. Detailed data on the commodities on which data are collected are also confidential. The data supply obligation is based on the Finnish Statistics Act.

Frequency

Monthly

Last updated 19.6.2013

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Consumer Price Index

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