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Published: 14 April 2010

Inflation 0.6 per cent in March

The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland rose to 0.6 per cent in March. In February it was still 0.1 per cent. Inflation was accelerated above all by risen prices of liquid fuels and slower fall in interest rates.

Inflation indicators in Finland, March 2010

	Point figure	Change on one year	Change on one month
Consumer Price Index 2005=100	109,2	0,6 %	0,5 %
Cost-of-living Index 1951:10=100	1 744
Harmonised Index of Consumer Prices 2005=100	110,2	1,5 %	0,6 %
Harmonised Index of Consumer Prices at Constant Taxes 2005=100	110,2	1,9 %	0,6 %

In March Consumer prices were pushed up most year-on-year by risen prices of liquid fuels. The rising of prices was also influenced by price increases in owner-occupied dwellings and real estate, restaurant and cafe services, and by increases in retail prices of alcoholic beverages and risen rents. Inflation was curbed most by fallen interest rates and food prices from last year’s March.

From February to March, consumer prices went up by 0.5 per cent. This was mainly due to higher prices of liquid fuels and ending of clothing sales.

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.

According to preliminary data, inflation in the EMU countries was 1.5 per cent in March

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the EMU countries was 1.5 per cent in March. In February it was 0.9 per cent. The corresponding figure for Finland in March was 1.5 per cent..

The Harmonised Index of Consumer Prices does not include owner-occupancy, games of chance, interests on consumption and other credits or levies such as asset transfer tax and the vehicle tax. The consumption items included in the Harmonised Index of Consumer Prices as well as 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 Harmonised Indices of Consumer Prices for March on 16 April.

The year-on-year change in the Harmonised Index of Consumer Prices at Constant Taxes was 1.9 per cent in March

The year-on-year change in the Harmonised Index of Consumer Prices thus stood at 1.5 per cent in March and that in the index at constant taxes measuring market price changes at 1.9 per cent. Over twelve months, the lowering impact of changes in commodity tax rates was thus 0.4 percentage points. The month-on-month change in both the Harmonised Index and the Index of Consumer Prices at Constant Taxes was 0.6 per cent in March. No commodity tax changes occurred in March.

In the Index at Constant Taxes the impact of the changes in the value added tax and other commodity taxes on inflation has been eliminated by keeping the taxes constant relative to the index base period. The Index measures market inflation or the change in prices caused by reasons other than changes in commodity taxes. The price impact of the tax changes is obtained by comparing the development of the Harmonised Index of Consumer Prices and the Index at Constant Taxes.

Source: Consumer Price Index, Statistics Finland

Inquiries: Juhani Pekkarinen (09) 1734 3476, Christina Telasuo (09) 1734 3472, khi@stat.fi

Director in charge: Kari Molnar

Consumer price index 2010, March (pdf 256.5 kB)

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Appendix tables

• Cost-of-living Index 1951:10=100 (14.4.2010)
• Year-on-year changes in the Consumer Price Index (14.4.2010)

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Updated 14.4.2010