Finland: Inflation rises in August from the prior month
Latest reading: Harmonized consumer prices were up 2.2% in annual terms in August, following a 2.0% rise in the prior month. August’s result marked the highest since October 2023, surpassed the ECB’s 2.0% inflation target and exceeded market expectations.
Relative to the prior month’s data, there were higher price pressures for housing and utilities (+1.3% yoy vs -0.3% in July) and restaurants and hotels (+2.3% vs +1.3% in July). In contrast, there were reduced price pressures for food and non-alcoholic beverages (+2.6% vs +3.1% in July), transportation (-0.6% vs 0.0% in July) and recreation (+3.4% vs +3.6% in July).
Meanwhile, consumer prices rose 0.5% in annual terms in August, following a 0.2% rise in the previous month.
Lastly, harmonized consumer prices were down 0.27% in August in month-on-month terms, following a 0.31% rise in the previous month.