Inflation rate slightly reduces to 6.8% in May

The year-on-year change in consumer prices was 6.8 per cent in May, according to Statistics Finland.

In April, inflation stood at 7.9 per cent. The decrease of inflation from April to May was caused by lower prices of petrol and by a milder rise in electricity prices.

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

The rising of consumer prices from one year back was curbed most by reductions in the prices of petrol, diesel and owner-occupied flats.

The month-on-month change of consumer prices was 0.3 per cent, which was caused by increases in average interest rate on housing loans.

The core inflation of Consumer Price Index was 6.8 per cent. Core inflation does not include food and energy price changes, as the short-term price fluctuations in these are higher compared to other commodity groups.