Published: 14 December 2010
The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland accelerated slightly further. In November it was 2.5 per cent and in October 2.3 per cent. Inflation speeded up primarily due to risen telephone call charges and strong fluctuations in air travel prices.
Inflation indicators in Finland, November 2010
|Point figure||Change on one year||Change on one month|
|Consumer Price Index 2005=100||110,7||2,5 %||0,2 %|
|Cost-of-living Index 1951:10=100||1 768|
|Harmonised Index of Consumer Prices 2005=100||111,5||2,4 %||0,2 %|
|Harmonised Index of Consumer Prices at Constant Taxes 2005=100||111,2||2,1 %||0,2 %|
In November, consumer prices were pushed up most from the year before by increases in the prices of owner-occupied dwellings and real estate, liquid fuels, food, non-alcoholic beverages and electricity. Inflation was also influenced by risen prices of cultural and recreational services, tobacco, and clothing from last year's November, as well as by rent increases. Inflation was curbed most by fallen interest rates and lowered prices of restaurant and cafe meals from twelve months ago.
From October to November, consumer prices went up by 0.2 per cent. This was mainly due to risen prices of vegetables.
Each mid-month, Statistics Finland interviewers collect altogether around 50,000 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.
According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was the same in November as in October, i.e. 1.9 per cent. The corresponding figure for Finland was 2.4 per cent in November.
The Harmonised Index of Consumer Prices does not include owner-occupancy, games of chance, interests on consumption and other credits or levies such as asset transfer tax and 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 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 November on 16 December.
The year-on-year change in the Harmonised Index of Consumer Prices thus stood at 2.4 per cent in November and that in the Index at Constant Taxes measuring market inflation at 2.1 per cent. Over twelve months, the combined raising impact on consumer prices from changes in commodity tax rates was 0.3 percentage points. The month-on-month change in both the Harmonised Index and the Index of Consumer Prices at Constant Taxes was 0.2 per cent in November. There were no changes in tax rates in November.
In the Index at Constant Taxes the impact of the changes in the value added tax and other commodity taxes on inflation has been eliminated by keeping the taxes constant relative to the index base period. The index measures market inflation or the change in prices caused by reasons other than changes in commodity taxes. The price impact of the tax changes is obtained by comparing the development of the Harmonised Index of Consumer Prices and the Index at Constant Taxes.
Source: Consumer Price Index, Statistics Finland
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Consumer price index 2010, November (pdf 107.0 kB)
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