Home > Statistics > Consumer price index > 2008 > October > Inflation slowed down to 4.4 per cent in October

Published: 14 November 2008

Inflation slowed down to 4.4 per cent in October

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland was 4.4 per cent in October. In September it stood at 4.7 per cent. Inflation slowed down above all because the prices of liquid fuels fell from September to October.

Consumer prices were pushed up most in the year by increases in the prices of food and housing. Food prices went up primarily due to increases in the prices of dairy products, meat and grain products. Housing costs were pushed up by rises in the prices of energy, rents and interest rates. Inflation was also influenced by risen prices of automotive fuels, restaurant and café services, and increases in the retail prices of alcoholic beverages from last year's October. The rising of consumer prices was curbed most in October by fallen prices of passenger cars, entertainment electronics and computers as well as telephone call charges.

From September to October, consumer prices remained unchanged on the average.

Each mid-month, Statistics Finland interviewers collect around 50,000 prices on 497 commodities from approximately 2,700 outlets for the Consumer Price Index. In addition, some 1,000 items of price data are gathered by centralised collection.

Finland's inflation indicators, October 2008

	Point figure	Year-on-year change	Month-on-month change
Consumer Price Index 2005=100	109.6	4.4%	0.0%
Cost-of-living Index 1951:10=100	1 750
Harmonised Index of Consumer Prices 2005=100	108.0	4.4%	0.0%

According to preliminary data, inflation in the EMU countries was 3.2 per cent in October

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was 3.2 per cent in October. In September it stood at 3.6 per cent. The corresponding figure for Finland was 4.4 per cent in October.

The Harmonised Index of Consumer Prices does not include owner-occupancy, games of chance, interests of consumption and other credits or levies such as the vehicle tax. The consumption items included in the Harmonised Index of Consumer Prices as well the rules governing its compilation have been defined in EU regulations.

Eurostat's estimate of inflation in the EMU area is based on preliminary data from EMU Member States and on the price development of energy. Eurostat will publish detailed data on the Harmonised Indices of Consumer Prices for October on 14 November.

Source: Consumer Survey 2008, October. Statistics Finland

Inquiries: Mr Juhani Pekkarinen +358 9 1734 3476, Ms Christina Telasuo +358 9 1734 3472,
Harmonised Index of Consumer Prices: Christina Telasuo +358 9 1734 3472
khi.tilastokeskus@stat.fi

Director in charge: Mr Kari Molnar

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Appendix tables

• Cost-of-living Index 1951:10=100 (14.11.2008)

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Last updated 14.11.2008