13 December 2002
Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Mr
Toni Udd +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 1.6 per cent in November
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 1.6 per cent in November. In October it stood at 1.5 per cent.
Higher prices of transport raised consumer prices by 0.4 percentage points in the year. This was primarily due to risen prices of petrol and motor vehicles from last year's November. Rent increases and higher prices of dwellings together accounted for 0.3 percentage points of inflation. The rise in prices of health care and hotel and restaurant prices had an almost equal effect. Prices of cultural and leisure services also increased from the year before. In contrast, the fall in interest rates decreased inflation by 0.3 percentage points. Call charges and prices of mobile phones also fell.
From October to November, consumer prices fell by 0.3 per cent, which was mainly caused by lower prices of call charges and package tours.
Inflation indicators in Finland, November 2002
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| Point figure | Change on one year | Change on one month | |
| Consumer Price Index (2000=100) | 104.5 | 1.6% | -0.3% |
| Cost of Living Index (1951:10=100) | 1,568 | ||
| Harmonised Index of Consumer Prices (1996=100) | 112.3 |
1.7% | -0.4% |
Each mid-month, Statistics Finland interviewers collect around 50,000 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 2.2 per cent in November
According to preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the member states of the EMU was 2.2 per cent in November. In October it was 2.3 per cent. The corresponding figure for Finland in November was 1.7 per cent.
Eurostat's estimate on inflation in the EMU area is based on preliminary data published by certain member states and on the price development of energy. Eurostat will publish detailed data on the Harmonised Indices of Consumer Prices for November on 18 December.
Source: Consumer Price Index 2002, November. Statistics Finland