Home > News > News and press releases > Press releases 2002 > Inflation slowed to 1.8 per cent in February

14 March 2002

Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Ms Tina Telasuo +358 9 1734 2951, Mr Juhani Pekkarinen
+358 9 1734 3476
Harmonised Index of Consumer Prices: Ms Mari Ylä-Jarkko +358 9 1734 3310
Director in charge: Mr Ilkka Lehtinen

Inflation slowed to 1.8 per cent in February

According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 1.8 per cent in February. In January it stood at 2.3 per cent. The inflation slowed down mainly because food prices fell in February and prices of liquid fuels rose during the reference period, i.e. in February 2001.

Higher food prices, primarily those of vegetables, meat and fruit, still raised consumer prices most, by 0.9 percentage points. Risen prices of cultural and leisure goods and services accounted for 0.4 percentage points of inflation. Rent increases and higher health care prices lifted the price level by 0.2 percentage points each from last year's February. In contrast, inflation was curbed by reduction in interest rates and lower prices of liquid fuels from last year.

From January to February, consumer prices rose by 0.2 per cent, primarily due to rent increases and higher prices of clothes and package tours.

Inflation indicators in Finland, February 2002

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	Point figure	Change on one year	Change on one month
Consumer Price Index (2000=100)	103.4	1.8%	0.2%
Cost of Living Index (1951:10=100)	1,551
Harmonised Index of Consumer Prices (1996=100)	111.2	2.5%	0.3%

Each mid-month, Statistics Finland interviewers collect over 65,000 prices on 492 commodities from approximately 3,500 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 EMU countries 2.5 per cent in February

According to preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the member countries of the EMU was 2.5 per cent in February. The corresponding figure for Finland was also 2.5 per cent.

Eurostat's estimate on inflation in the EMU area is based on preliminary data published by Germany and Italy and on the price development of energy. Eurostat will publish detailed data on the Harmonised Indices of Consumer Prices for February on 18 March.

Source: Consumer Price Index 2002, February. Statistics Finland