15 December, 1999
Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Ms
Mari Suviranta +358 9 1734 3501
Harmonised Index of Consumer Prices: Ms Mari Ylä-Jarkko +358 9 1734
3310
Director in charge: Mr Jarmo Hyrkkö
Inflation quickened in November
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 1.6 per cent in November. The rate of inflation quickened, for in October it stood at 1.3 per cent. Increases in the prices of petrol and light fuel oil and higher rents and dwelling prices continued to uphold inflation.
The direct impact of higher petrol prices on inflation was as much as 0.6 percentage points in November. The effect of higher dwelling prices was 0.3 percentage points. Consumer price increases were curbed most by reductions in housing loan interest rates.
From October to November, consumer prices remained unchanged, on average. The prices of petrol and light fuel oil went up, whereas those of package tours, fruit and vegetables went down.
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Inflation indicators in Finland, November 1999 |
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|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (1995=100) |
105.1 |
1.6 % |
0.0 % |
|
Cost of Living Index (1951:10=100) |
1,460 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
104.6 |
1.9 % |
0.0 % |
Each mid-month, Statistics Finland interviewers collect over 50,000 prices from approximately 2,000 outlets for the Consumer Price Index. In addition, some 600 items of price data are gathered by centralised collection.
Inflation in EU countries 1.3 per cent in October
According to the Harmonised Index of Consumer Prices, the rate of inflation in the EU Member States was 1.3 per cent in October. Inflation quickened, for in September the rate was 1.2 per cent. In the member countries of the EMU, the year-on-year increase in consumer prices was 1.4 per cent. Inflation was fastest in Ireland, where prices rose by 2.8 per cent in the year to October, and slowest in France and Austria, at 0.8 per cent. The corresponding rate for Finland was 1.6 per cent.
In November, the Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) stood at 104.6 and the year-on-year change at 1.9 per cent. From October to November, the index remained unchanged.
Source: Consumer Price Index 1999, November. Statistics Finland.