Decrease in fuel price growth reduces inflation slightly in June

The year-on-year change in consumer prices was 2.0 per cent in June, according to Statistics Finland.

In May, the inflation stood at 2.2 per cent. The decrease in inflation was partly due to the decrease in the year-on-year growth in fuel prices.

From last June to this June, increases in the prices of petrol, diesel, detached houses and capital repair on detached houses had the largest upward impacts on the consumer price index.

Decreases in the prices of long-distance train journeys, regular ferry service and televisions and the average interest rates on housing loans and consumer credit had the largest downward impacts.

From May to June, consumer prices fell by 0.1 per cent. Among other things, the prices of clothing and vegetables fell.

Each mid-month, Statistics Finland's interviewers collect altogether 19,000 prices on nearly 400 commodities from about 2,100 outlets for the Consumer Price Index.

The price data is supplemented with scanner data wherefrom 5 million individual prices are included into calculation. In addition, some 1,000 items of price data are gathered by centralised collection.