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Finland Inflation August 2023

Finland: Harmonized inflation drops to lowest level since October 2021 in August

Harmonized inflation dropped to 3.1% in August, down from July’s 4.2%. August’s figure represented the lowest inflation rate since October 2021. Looking at the details of the release, August’s moderation was largely driven by a softer increase in prices for food and non-alcoholic beverages. Moreover, prices for recreation also grew at a more subdued pace.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 6.6% in August (July: 7.0%). Meanwhile, consumer price inflation fell to 5.6% in August, from July’s 6.5%.

Lastly, harmonized consumer prices fell 1.10% in August over the previous month, swinging from July’s 0.26% rise.

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