Finland Inflation May 2020


Finland: Consumer prices decline at more moderate pace in May

June 15, 2020

Consumer prices fell 0.02% in May over the last month, a softer drop than the 0.34% decline seen in April. Looking at the details of the release, prices for transportation, and food and non-alcoholic beverages rose, while prices for recreation and culture fell at a more modest pace. In contrast, housing and utilities prices declined in May after rising in April.

Consumer prices fell 0.2% on an annual basis in May, slightly above April’s 0.3% fall. Annual average inflation fell to 0.7% in May (April: 0.8%), the lowest level since May 2018. Lastly, the harmonized consumer prices dropped 0.2% in May, following the 0.3% decrease in the previous month.

FocusEconomics Consensus Forecast panelists expect CPI inflation to average 0.4% in 2020, which is down 0.2 percentage points from last month’s estimate. In 2021, our panelists see inflation averaging 1.2%.

Author:, Economist

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Finland Inflation Chart

Finland Inflation May 20 20

Note: Month-on-month seasonally adjusted and year-on-year variation in %.
Source: Statistics Finland.

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