Sunday 3/7/21
CONSUMER PRICES

Prices of tobacco, train tickets, houses raised inflation in January

From December to January, the month-on-month change of consumer prices was 0.3%, which was caused by higher prices of petrol compared to the previous month.

A supermarket in Espoo. Photo: Foreigner.fi.
A supermarket in Espoo. Photo: Foreigner.fi.

Consumer prices of goods and services in Finland calculated year-on-year went up by 0.9% in January, according to Statistics Finland. In December, inflation stood at 0.2%.

Consumer prices were raised most in January by increases in the prices of cigars, international flights, long train journeys, and detached houses from one year ago.

The rising of consumer prices from one year back was curbed most by reductions in the prices of fuels, hotel rooms, vegetables, and average interest rate on housing loans.

From December to January, the month-on-month change of consumer prices was 0.3%, which was caused by higher prices of petrol compared to previous month.

Euro area inflation

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the euro area was 0.9% in January. The corresponding figure for Finland was 1% in January.

The Harmonised Index of Consumer Prices has been defined by EU regulations. It 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.

Changes in Finland's index

In Finland, the basket of commodities for the Consumer Price Index and the weighting structure were updated in early January and the data was expanded with general-use goods, such as tableware, bedding and toys. 

In addition to that, new total datasets were taken into use which include sales information regarding food products, alcoholic drinks, cleaning and maintenance products, pet products and personal hygiene products.

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