Finland skyline

Finland Inflation November 2023

Finland: Harmonized inflation drops to near three-year low in November

Harmonized inflation dropped to 0.7% in November, following October’s 2.4%. November’s figure marked the weakest inflation rate since December 2020. Looking at the details of the release, the deceleration was driven by moderating price pressures for food and non-alcoholic beverages and easing price pressures for housing and utilities. Moreover, prices for recreation grew at a more subdued pace.

Accordingly, the trend pointed down, with annual average harmonized inflation falling to 5.0% in November (October: 5.7%). Meanwhile, consumer price inflation fell to 3.3% in November, from the previous month’s 4.9%.

Finally, harmonized consumer prices fell 0.50% over the previous month in November, swinging from the 0.23% increase recorded in October. November’s result marked the weakest reading since August.

November’s print marked the first time that harmonized inflation fell below the ECB’s 2.0% target since August 2021. The lagged effects of restrictive monetary policy this year and a more challenging base of comparison will keep a lid on inflation in the coming months.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest