A more recent publication of this set of statistics is available.

Latest publication: Consumer price index 2019, October

Published: 14 June 2016

Inflation remained at 0,3 per cent in May

The year-on-year change in consumer prices calculated by Statistics Finland was 0.3 per cent in May. In April, inflation stood also at 0.3 per cent. Inflation remaining positive was influenced, for example, by increases in the consumer prices of the vehicle tax, maintenance charges, hospital fees and reimbursable prescription medicines from one year ago.

Inflation indicators in Finland, May 2016

  Point figure Annual change (%) Monthly change (%)
Consumer Price Index 2010=100 100,3 0,3 -0,0
Cost-of-living Index 1951:10=100 1912    
Harmonised Index of Consumer Prices 2015=100 100,4 0,3 -0,1
Harmonised Index of Consumer Prices at Constant Taxes 2015=100 100,3 0,2 -0,1

Consumer prices were raised in May by increases in the vehicle tax, maintenance charges, hospital fees and reimbursable prescription medicines from one year ago. The rising of consumer prices was curbed most by reductions in the prices of liquid fuels and average housing loan interest rates from the year before. From April to May, consumer prices changed by -0.0 per cent.

Each mid-month, Statistics Finland's interviewers collect altogether around 48,000 prices on nearly 500 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 euro area was -0.1 per cent in May

According to the preliminary data on the Harmonised Index of Consumer Prices, the rate of inflation in the euro area was -0.1 per cent in May. In April, it was -0.2 per cent. The corresponding figure for Finland was 0.3 per cent in May.

The Harmonised Index of Consumer Prices does not include owner-occupancy, games of chance, interests on consumption and other credits, fire insurance on owner-occupied dwellings or 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 euro area is based on preliminary data from the Member States and on the price development of energy. Eurostat will publish detailed data on Harmonised Indices of Consumer Prices for May on 16 June. Information of inflation in EU countries is available on Eurostat homepage, eurostat (http://ec.europa.eu/eurostat/web/main).

The year-on-year change in the Harmonised Index of Consumer Prices at Constant Taxes was 0.2 per cent in May

The year-on-year change in the Harmonised Index of Consumer Prices stood at 0.3 per cent in May and that in the Index at Constant Taxes measuring market inflation at 0.2 per cent. Over twelve months, the combined raising impact on consumer prices from changes in commodity tax rates was thus 0.1 percentage points. The month-on-month change in the Harmonised Index of Consumer Prices was -0.1 per cent and that in the Index at Constant Taxes -0.1 per cent in May.

Harmonised Index of Consumer Prices at Constant Taxes

The inflation measured by Consumer Price Index consists mainly of products and services priced by enterprises and the public sector, and value added and commodity taxes. Some 25 per cent of the private consumption described by the Harmonised Index of Consumer Prices (HICP) consists of value added or other taxes. The Harmonised Index of Consumer Prices at Constant Taxes (HICP-CT) is based on the HICP so the two indices have the same weight structure and price data. HICP-CT is calculated with a method which holds the tax rate constant relative to the reference period. When tax changes take place, the impact of the tax change on commodity prices is eliminated from HICP-CT. The price impact of the tax changes is obtained by comparing the development of the HICP and HICP-CT.


Source: Consumer Price Index, Statistics Finland

Inquiries: Ilkka Lehtinen 029 551 3478, Kristiina Nieminen 029 551 2957, khi@stat.fi

Director in charge: Ville Vertanen

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Updated 14.6.2016

Referencing instructions:

Official Statistics of Finland (OSF): Consumer price index [e-publication].
ISSN=1799-0254. May 2016. Helsinki: Statistics Finland [referred: 14.12.2019].
Access method: http://www.stat.fi/til/khi/2016/05/khi_2016_05_2016-06-14_tie_001_en.html