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Latest publication: Consumer price index 2019, June

Published: 14 January 2008

Inflation slowed down to 2.6 per cent in December

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland was 2.6 per cent in December. In November it stood at 2.9 per cent. The slowing down of inflation was primarily caused by falls in the prices of phone call charges, food and liquid fuels in December. In 2007 the average inflation was 2.5 per cent.

Consumer prices were pushed up most in the year by increased cost of housing. Housing prices were pushed up primarily by risen housing loan interest rates, higher prices of owner-occupied flats and real estate, as well as rent increases. Risen running costs of vehicles, increases in the prices of food and higher interest rates on consumer credits, as well as increases in restaurant and café prices also had an impact on inflation. By contrast, the rise in consumer prices was curbed most in December by fallen prices of used passenger cars, entertainment electronics and computers.

From November to December, consumer prices fell by 0.2 per cent. This resulted mostly from falls in the prices of liquid fuels and vegetables.

Each mid-month, Statistics Finland interviewers collect around 60,000 prices on 497 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.

Finland's inflation indicators, December 2007

  Point figure Year-on-year change Monthly change

Consumer Price Index 2005=100

105,1

2,6 %

-0,2 %

Cost-of-living Index 1951:10=100

1 678
   

Harmonised Index of Consumer Prices 2005=100

103,6

1,9 %

-0,2 %

According to preliminary data, inflation in the EMU countries was 3.1 per cent in December

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries in December was unchanged from November, i.e. 3.1 per cent. The corresponding figure for Finland was 1.9 per cent in December.

Eurostat's estimate of inflation in the EMU area is based on preliminary data from EMU Member States and on the price development of energy. Eurostat will publish detailed data on Harmonised Indices of Consumer Prices for December on January 16.

A link on the left side navigation bar leads to Eurostat's Harmonised Indices of Consumer Prices page.

Source: Consumer Price Index 2007, December. Statistics Finland

Inquiries: Mr Juhani Pekkarinen +358 9 1734 3476, Ms Kati Heikkinen +358 9 1734 3472,
Harmonised Index of Consumer Prices: Ms Christina Telasuo +358 9 1734 2951
khi.tilastokeskus@stat.fi

Director in charge: Mr Kari Molnar

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Last updated 14.1.2008

Referencing instructions:

Official Statistics of Finland (OSF): Consumer price index [e-publication].
ISSN=1799-0254. December 2007. Helsinki: Statistics Finland [referred: 16.7.2019].
Access method: http://www.stat.fi/til/khi/2007/12/khi_2007_12_2008-01-14_tie_001_en.html