Finland: Inflation rises in May from April
Latest reading: Harmonized consumer prices rose 2.8% on a year-on-year basis in May, following a 2.4% rise in the prior month. May’s reading was the strongest since September 2023.
Relative to the prior month’s figures, there were higher price pressures for transportation (+7.5% on a year-on-year basis vs +5.5% in April), housing and utilities (+2.3% vs +1.7% in April) and recreation (+2.0% vs +1.0% in April). In contrast, there were milder price pressures for food and non-alcoholic beverages (+1.2% vs +1.7% in April) and restaurants and hotels (+1.8% vs +2.3% in April).
Meanwhile, consumer prices increased 2.1% in annual terms in May, following a 1.5% rise in the prior month.
Finally, harmonized consumer prices increased 0.54% in May on a month-on-month basis, following a 0.03% rise in the prior month.
Panelist insight: On the inflation outlook, EIU analysts commented:
“We expect Finnish HICP inflation to remain below the euro zone average in 2026 […]. The pass-through of the Iran war energy shock will continue in the coming months and lift the headline rate, but weak domestic pressures will continue to anchor underlying inflation well below the euro zone level.”