Inflation drops a bit to 8.4% in Jan

The year-on-year change in consumer prices was 8.4 per cent in January, according to Statistics Finland.

In December, inflation stood at 9.1 per cent. The drop in inflation from December to January was caused, for example, by a milder rise in electricity prices.

In January, the commodity basket of the Consumer Price Index and the weight structure of consumption were updated corresponding to the private consumption in 2022.

Consumer prices were raised most in January by increases in the prices of electricity, average interest rate on housing loans and consumer credits as well as increases in the prices of diesel from one year ago.

The rising of consumer prices from one year back was curbed most by reductions in the prices of real estates and non-refundable prescription medicines.

The month-on-month change of consumer prices was 0.6 per cent, which was caused by higher prices of electricity and increases in average interest rate on housing loans, for example.