In October, consumer prices rose 0.4% over the previous month, which repeated the readings tallied in the previous two months. The price rise reflected lower price increases in food (September: +1.3% month-on-month; October: +0.8% mom) and in clothing and footwear (September: +5.1% mom; October: +1.4% mom), which were offset by higher price increases in other categories. Meanwhile, annual inflation jumped from 1.4% in September to 2.3% in October. The spike was the result of a base effect, as food prices had dropped sharply in October last year, owing to a VAT reduction for food products from 17% to 12%. The VAT rate for food products was raised to 13% in July 2010. Annual HICP inflation (as measured by the harmonised index of consumer prices) leapt from 1.4% in September to 2.3% in October, which drove up the annual average HICP inflation rate a notch to 1.5%. In its most recent Economic Outlook Bulletin published in September, the Central Bank projects inflation to average 1.6% this year and to accelerate further to an average of 1.9% next year.
Inflation jumps in October
November 15, 2010
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Finland Economic News
October 14, 2016
The current account posted a EUR 166 million deficit in August, according to Statistics Finland.
October 14, 2016
In August, economic activity fell a working-day adjusted 0.1% over the same month last year, according to the Monthly Trend Indicator of Output.
September 15, 2016
In July, economic activity expanded a working-day adjusted 1.5% over the same month last year, according to the Monthly Trend Indicator of Output.
September 6, 2016
The Finnish economy recorded flat growth in Q2 over the previous quarter in seasonally-adjusted terms, which represented a slowdown from Q1’s 0.3% expansion, according to preliminary data released by Statistics Finland on 6 September.
August 15, 2016
The current account posted a EUR 219 million deficit in June according to Statistics Finland.