Inflation climbs to 2.2% in August

The year-on-year change in consumer prices was 2.2 per cent in August, according to Statistics Finland.

In July, inflation stood at 1.9 per cent. The increase in inflation was caused by higher prices of capital repair on detached houses, for example.

Consumer prices were raised most in August by increases in the prices of capital repair on detached houses, petrol, detached houses, diesel, and owner-occupied flats from one year ago.

The rising of consumer prices from one year back was curbed most by reductions in the prices of refundable prescription medicines, children’s day care, average interest rate on housing loans and consumer credit, and games of chance.

From July to August, consumer prices rose by 0.2 per cent which was caused by capital repair on detached houses, for example.

Each mid-month, Statistics Finland's interviewers collect altogether 19,000 prices on nearly 400 commodities from approximately 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.