Inflation drops a bit in June

The year-on-year change in consumer prices was 1.0 per cent in June, according to the Statistics Finland.

In May, inflation stood at 1.2 per cent. The decline in inflation was caused by lower prices of petrol, for example.

Consumer prices were raised most in June by increases in the prices of electricity, cigarettes, rents, bank charges and capital repairs on detached houses from one year ago.

The rising of consumer prices from one year back was curbed most by reductions in the prices of mobile phones, detached houses, televisions and second-hand passenger cars.

Each mid-month, the 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 three million food prices. In addition, some 1,000 items of price data are gathered by centralised collection.