Upward trend in consumer prices

Consumer prices rose by 0.6 per cent in the year to March, and by 0.1 per cent from February to March. This appears from Statistics Finland's Consumer Price Index.

Of all commodity groups, the highest rise in one year was in beverages and tobacco, where the prices rose by 2.3 per cent. The costs of health and medical care rose by 2.0 per cent. Inflation was, however, boosted most by the increase in transport and communications costs.

The average rise in prices was curbed by falling interest rates. The average rates on housing loans lowered inflation by about 0.4 percentage points. Food was 2.6 per cent cheaper in March compared to the year before, which also reduced inflation rate by some 0.4 percentage points. From February to March the price of food was up by 0.5 per cent, primarily attributable to the higher prices of vegetables.

The end of seasonal clothing sales still contributed to price increases in clothing and footwear in March, the biggest single factor in the monthly increase in consumer prices. Price increases were curbed most by the lower prices of second-hand cars and the fall in interest rates.

The Consumer Price Index 1990=100 was 112.5 in March
The Cost of Living Index 1951:10=100 was 1 396

Harmonised Consumer Price Index of the EU

The point figure of the interim harmonised consumer price index of the EU (1994=100) was 102.0 in March and the year-on-year change 1.1 per cent. Of the EU countries, Finland's year-on-year change, at 0.9 per cent, was the lowest in February, EU average being 2.7 per cent.

Underlying inflation -0.1 per cent in February

The point figure of the Bank of Finland's indicator of underlying inflation was 111.4 in February, and the year-on year change -0.1 per cent.

Source: Consumer Price Index, March 1996
Further information: Kaisa Weckström-Eno, tel. +358 0 1734 3479, or
Juhani Pekkarinen +358 0 1734 3476.