According to preliminary data published by Statistics Finland on Tuesday, inflation in Finland, ie the annual change in consumer prices, rose to 2.2 per cent in August.
The corresponding figure for July was 1.9 per cent, and the latest figures continue this year’s trend, where Finnish inflation is rising monthly from the comparison period. For example, interest rates rose 2.2 percent in May and led to forecasts of post-pandemic economic growth.
According to Statistics Finland, the rise in inflation was due to higher prices for petrol, diesel, detached houses and owner-occupied dwellings, as well as a significant increase in the renovation costs of detached houses.
At the same time, rising prices were curbed by lower average interest rates on repayable prescription drugs, childcare and mortgages and consumer credit.
In order to compile the Finnish Consumer Price Index (CPI), which describes inflation fluctuations in Finland, Statistics Finland collects about 19,000 prices from almost 400 commodities from about 2,100 outlets.
This information is supplemented by so-called cash registers, which contain about five million individual prices, as well as an additional 1,000 pieces of price information collected through centralized collection.
Source: The Nordic Page