Finland Inflation August 2022


Finland: Harmonized inflation moderates in August

September 14, 2022

Harmonized inflation came in at 7.9% in August, down from July’s 8.0%. August's reading marked the lowest inflation rate since May. Looking at the details of the release, prices for transportation increased at a more moderate rate. In contrast, the change in prices for food and non-alcoholic beverages rose at a faster pace in August.

The trend pointed up, with annual average harmonized inflation coming in at 5.2% in August (July: 4.7%). Meanwhile, consumer price inflation fell to 7.6% in August, from the previous month's 7.8%.

Lastly, harmonized consumer prices dropped 0.10% over the previous month in August, swinging from July's 0.15% increase. August's result marked the sharpest fall in prices since December 2021.

FocusEconomics Consensus Forecast panelists see harmonized inflation averaging 6.3% in 2022, which is up 0.3 percentage points from the prior month’s projection, and 3.1% in 2023.


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Finland Inflation Chart

Finland Inflation August 2022 1

Note: Month-on-month and year-on-year variation in %.
Source: Statistics Finland.

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