Monday 10/25/21
INFLATION

Finland's consumer prices jump 2.1% in April

Increases in the prices of petrol, diesel, long-distance train journeys, and cigarettes had the largest upward impacts on the consumer price index.
Face-mask-woman-Jumbo-Vantaa-shopping-mall-center-by-Foreigner.fi
A shopping center in Vantaa. Photo: Foreigner.fi/file photo.

Finland's annual inflation rose by 2.1% in April, according to Statistics Finland.

The Finnish statistical office attributes the upward trend in inflation mainly to the evolution of fuel prices.

The year-on-year change in consumer prices was 2.1% in April, while in March inflation stood at 1.3%.

"The increase in the inflation rate was particularly due to the rapid fall in fuel prices during spring 2020. Due to the fall, the increase in fuel prices from last April to this April was considerably larger than from March to March," the statistical office says.

From last April to this April, increases in the prices of petrol, diesel, long-distance train journeys, and cigarettes had the largest upward impacts on the consumer price index.

Decreases in the average interest rates on housing loans and consumer credit and the prices of regular ferry service, beer served in restaurants, and televisions had the largest downward impacts.

Inflation April 2021 by Statistics Finland.Source: Statistics Finland.

More expensive medicines

From March to April, consumer prices rose by 0.4%, which was partly due to a rise in the prices of pharmaceutical products.

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the euro area was 1.6% in April. In March it was 1.3%.

The corresponding figure for Finland was 2.2% in April.

The statistical office of the European Union (Eurostat) estimates the harmonized consumer price index based on EU regulations.

To allow for international comparison, harmonised inflation does not include items such as owner occupancy, games of chance, interests on consumption and other credits, fire insurance on owner-occupied homes, the vehicle tax or fishing and hunting fees.

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