Friday. 01.12.2023

Finland's inflation accelerated sharply in March mainly due to higher prices for fuels, preliminary data from Statistics Finland showed on Thursday.

The consumer price index increased 5.8% year-on-year in March, following a 4.5% increase in February.

Inflation was driven by increases in the prices of electricity, petrol, diesel, and capital repair on detached houses from one year ago.

Price growth was curbed most by reductions in the prices of children's day care, medical examination and treatment fees, average interest rate on housing loans, non-refundable prescription medicines, and regular ferry service, the agency said.

On a monthly basis, consumer prices gained 1.45% in March, driven by diesel prices, following a 0.5% rise in the prior month.

Prices rose for a third straight month.

The Harmonized Index of Consumer Prices, which is the EU measure of inflation, increased 5.8% annually in March and rose 1.6% from a month ago.

Finland inflation accelerates sharply in March