According to the Statistics Finland the consumer price inflation was 0,9% in December 2019. In November and October 2019, the inflation was 0,7%. The increase in inflation from November to December was caused by higher prices for electricity, for example. The average inflation rate was 1,0% in December.
Consumer Price Index (or CPI) 2015=100 means, that year 2015 is used as the base year in Finland for this index, which serve as a criterion for the future periods. Thus, the numbers are the following:
- CPI is equal to 103,7
- annual change = 0,9%
- monthly change = 0,1%
The increase in the consumer prices in December 2019 compared with the same period of last year (December 2018), occurred mostly because of raises in prices for electricity, cigarettes, rents and petrol. Whereas the monthly change in 0,1% (from November 2019 to December 2019) has occurred because the vegetables were more expensive, for example.
According to provisional data the rate of inflation in the eurozone was 1,3% in December 2019 compared with the November 2019 data, when the rate of inflation was 1,0%.
The full statistic data concerning the inflation indicators in Finland you can find at Statistics Finland website.
Published 16.01.2020, FINREPO