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Inflation decreases slightly to 1.3% in November

14 Dec 2018, 21:37 ( 10 Months ago)

DF Report
Photo VisitFinland by Elina Sirparanta.

The year-on-year change in consumer prices was 1.3 per cent in November, according to Statistics Finland.

In October, inflation stood at 1.5 per cent. The slight decline in inflation from October to November was due to lower prices of vegetables, fuels and package tours abroad.

Consumer prices were raised most in November by increases in the prices of electricity, cigarettes and fuels and capital repair on detached house from one year ago.

The rising of consumer prices from one year back was curbed most by reductions in the prices of child day care, mobile phones and detached houses. From October to November, the month-on-month change of consumer prices was -0,0 per cent.

Each mid-month, Statistics Finland's interviewers collect altogether around 50,000 prices on nearly 470 commodities from approximately 2,700 outlets for the Consumer Price Index. In addition, some 1,000 items of price data are gathered by centralised collection.

According to preliminary data, inflation in the euro area was 2.0 per cent in November.

In October, it stood at 2.2 per cent. The corresponding figure for Finland in November was 1.4 per cent.

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.