Euro area inflation was 5.8 per cent in February.
According to Statistics Finland, consumer prices are currently being raised, in particular, by rising repair and renovation costs for fuel, electricity and housing. Prices were kept in check primarily by lower daycare costs, the average interest rate on mortgages and regular ferry prices.
Prices of food and non-alcoholic beverages rose by 4.5 per cent year-on-year in February, the highest level since the beginning of 2015.
Inflationary pressures are significant, especially for coffee, where prices have risen 33.75% in the last 12 months and 41.3% in the last 24 months. According to Helsingin Sanomat.
Jukka Appelqvist, the chief economist of the Chamber of Commerce reminded on Monday that the latest statistics have still been affected by Russia ‘s war in Ukraine. He also recalled that many predicted inflation to peak at 3.7 percent in November 2021.
“It wasn’t like that, and we haven’t seen a peak yet. Prices continue to rise, he tweeted.
Aleksi Teivainen – HT
Source: The Nordic Page