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HomeEconomyInflation Picked Up Pace in Finland in July

Inflation Picked Up Pace in Finland in July

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INFLATION gained momentum in Finland in July.
Statistics Finland on Monday reported that its harmonised consumer price index crept up by 0.3 per cent between June and July, translating to a year-on-year increase of 4.2 per cent in July. Prices rose last month particularly for culture and recreation-related products and services, by 8.6 per cent from the previous year.

The prices of food and non-alcoholic beverages increased by 8.3 per cent, those of hotel and restaurant services by 7.4 per cent and those of communication products and services by 6.6 per cent year-on-year.

The most significant month-on-month rises were recorded for culture and recreation-related products and services (1.1%) and alcohol and tobacco products (0.9%).

Consumer prices went down from the previous year in two of the 12 categories incorporated in the index: by 4.0 per cent in transport and 2.8 per cent in health. Compared with June, the most notable price drops took place in the health (1.3%), and furniture, house appliance and routine household maintenance (1.1%) categories.

Statistics Finland’s harmonised consumer price index excludes factors such as owner-occupied housing costs, interests on consumer and other forms of credit or the vehicle tax.

Source: Helsinki Times

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