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.
Author: Stephen Vogado, Economist