Finland Inflation May 2022


Finland: Inflation comes in at highest level since February 1990 in May

June 14, 2022

Consumer prices increased 1.31% over the previous month in May, accelerating from the 0.32% rise logged in April. The acceleration was broad-based, with greater price pressures recorded for housing, water, electricity, gas and other fuels, transportation, and food and non-alcoholic beverages.

Inflation came in at 7.0% in May, which was up from April’s 5.7%. May's result was the highest inflation rate since February 1990. Meanwhile, the trend pointed up, with annual average inflation coming in at 3.9% in May (April: 3.5%). Lastly, harmonized inflation rose to 7.1% in May, from April’s 5.8%.

FocusEconomics Consensus Forecast panelists see harmonized inflation averaging 5.0% in 2022, which is up 0.3 percentage points from the prior month’s projection, and 2.1% in 2023.


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Finland Inflation Chart

Finland Inflation May 2022

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

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