Consumer prices were raised the most compared to a year ago by the increase in the average mortgage interest rate, consumer credit interest rates and the price of ready-made trips outside the EU.
CONSUMER PRICES the annual change, i.e. inflation, accelerated slightly in December due to, among other things, the rise in the average interest rate on mortgages and the price of ready-made trips abroad.
According to data published by Statistics Finland on Monday, consumer prices rose by 3.6 percent in December from a year ago, while in November the annual change was 3.3 percent.
Compared to November, consumer prices rose by 0.3 percent in December. This was due, among other things, to the rise in the prices of electricity and international air traffic.
Inflation started to accelerate in 2021 after a long period of slow inflation. The fastest price increase was in November and December 2022, when consumer prices in Finland rose by 9.1 percent.
Statistics Finland According to The effect of the average mortgage interest rate on annual inflation was about 2.1 percentage points.
The increase in consumer prices, on the other hand, was restrained the most by the cheaper prices of electricity, condominiums and detached houses. The cheaper electricity dampened inflation by about one percentage point.
According to preliminary data of the harmonized consumer price index comparable to the euro area, inflation in Finland was 1.3 percent in December.
The harmonized consumer price index does not include, for example, owner-occupied housing. It is therefore a better indicator of the price level than the annual change in consumer prices and base inflation during rapid interest rate changes.
Core inflation was 5.5 percent in December. Core inflation does not include food and energy price changes.
#economy #Inflation #accelerated #slightly #December
