Finland Inflation Eases To 4.9%, Lowest In 20 Months

Finland’s consumer price inflation moderated further in October to the lowest level in more than one-and-a-half years, preliminary data from Statistics Finland showed on Tuesday.

The consumer price index climbed 4.9 percent year-over-year in October, slower than the prior month’s 5.5 percent gain.

Further, this was the lowest inflation rate since February 2022, when prices had risen 4.5 percent.

The rise in consumer prices from one year ago was curbed most by reductions in the prices of electricity, owner-occupied flats, and real estate, the agency said.

On the other hand, consumer prices were raised the most by rises in average interest rates on housing loans, consumer credit, and the prices of package international holidays within the EU.

Among the major components, prices for food and non-alcoholic beverages alone grew 4.0 percent annually in October, though slower than the 4.6 percent rise a month ago.

Utility costs were 6.7 percent higher annually in October. Meanwhile, health costs dropped by 2.10 percent. There was a 0.32 percent fall in transport charges, which also helped ease inflation.

Compared to the previous month, consumer prices moved up 0.3 percent in October, versus a 0.7 percent gain in the prior month.

The EU measure of the harmonised index, or HICP, climbed 2.4 percent annually in October, slower than the 3.0 percent increase a month ago.

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