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Finland Inflation May 2023

Finland: Harmonized inflation falls to over one-year low in May

Harmonized inflation eased to 5.0% in May, following April’s 6.3%. May’s result represented the lowest inflation rate since February 2022. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a more moderate pace in May, while prices for transportation fell at a sharper pace.

Accordingly, the trend pointed down mildly, with annual average harmonized inflation coming in at 7.7% in May (April: 7.9%). Meanwhile, consumer price inflation fell to 6.8% in May, from the previous month’s 7.9%.

Finally, harmonized consumer prices rose 0.08% from the previous month in May, accelerating from April’s 0.05% increase.

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