Finland Inflation October 2021

Finland

Finland: Inflation comes in at highest level in nearly a decade in October

November 15, 2021

Consumer prices rose 0.75% from the previous month in October, accelerating from the 0.31% rise recorded in September. October's figure was the highest reading since March 2008. The pick-up was broad-based, with greater price pressures recorded for housing, water, electricity, gas and other fuels, transportation, as well as for food and non-alcoholic beverages.

Inflation rose to 3.2% in October, above September’s 2.5%. October's result marked the highest inflation rate since January 2012. Meanwhile, the trend pointed up, with annual average inflation edging up to 1.6% in October (September: 1.4%). Finally, harmonized inflation rose to 2.8% in October, from the previous month's 2.1%.

FocusEconomics Consensus Forecast panelists project harmonized inflation to average 1.6% in 2022, which is up 0.1 percentage points from last month’s estimate, and 1.4% in 2023.


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Finland Inflation October 2021

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


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