Tuesday. 28.03.2023

Prices of electricity, tobacco and rents increased in September

Annual inflation rate stood at 0.9%, according to Statistics Finland.
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The annual inflation rate in Finland fell two tenths in September, pushed down by the decline in prices such as vegetables, mobile phones, petrol, equipment for sport and televisions.

On the contrary, consumer prices were raised most in September by increases in the prices of electricity, cigarettes, rents and wireless telephone services from one year ago.

According to Statistics Finland, the year-on-year change in consumer prices was 0.9% in September. In August inflation stood at 1.1 per cent. From August to September, the month-on-month change of consumer prices was 0.0%, the prices remained stable on the total level.

Each mid-month, Statistics Finland's interviewers collect altogether 44,000 prices on nearly 470 commodities from approximately 2,700 outlets for the Consumer Price Index. Price data is supplemented with scanner data including around 3 million food prices. In addition, some 1,000 items of price data are gathered by centralised collection.


Source: Statistics Finland.

Inflation in euro area 0.9% in September

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the euro area was 0.9% in September. In August, it was 1%. The corresponding figure for Finland was 1% cent in September.

The Harmonised Index of Consumer Prices does not include owner-occupancy, games of chance, interests on consumption and other credits, fire insurance on owner-occupied dwellings, the vehicle tax or fishing and hunting fees.

The consumption items included in the Harmonised Index of Consumer Prices, as well as the rules governing its compilation, have been defined in EU regulations. Eurostat’s estimate of inflation in the euro area is based on preliminary data from the Member States and on the price development of energy.

Harmonised Index at Constant Taxes 0.8%

The year-on-year change in the Harmonised Index of Consumer Prices at Constant Taxes measuring market inflation stood at 0.8%.

Over twelve months, the combined raising impact on consumer prices from changes in commodity tax rates was thus 0.2 percentage points.

The month-on-month change in the index at constant taxes was 0.0% in September.

Prices of electricity, tobacco and rents increased in September