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15 April 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 Kari Molnar

Inflation stayed at 1.8 per cent in March

According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was in March the same as in February, 1.8 per cent.

Higher food prices, primarily those of fruit, vegetables and meat, raised consumer prices most in the year, by 0.9 percentage points. Risen prices of cultural and leisure goods and services accounted for 0.3 percentage points of inflation and rent increases and higher health care prices for 0.2 percentage points. In contrast, the fall in interest rates lowered inflation by 0.7 percentage points. Prices of liquid fuels were still lower than last year, which curbed inflation by 0.3 percentage points.

From February to March, consumer prices rose by 0.5 per cent, which was mostly due to the end of clothes sales and higher prices of liquid fuels.

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Inflation indicators in Finland, March 2002

Point figure

Change
on one year

Change
on one month

Consumer Price Index (2000=100)

103.9

1.8%

0.5%

Cost of Living Index (1951:10=100)

1,559

Harmonised Index of Consumer Prices (1996=100)

111.8

2.6%

0.5%

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 March

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 March. The corresponding figure for Finland was 2.6 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 March on 17 April.

Source: Consumer Price Index 2002, March. Statistics Finland