Finland Inflation July 2022

Finland

Finland: Inflation remains stable in July

August 15, 2022

Consumer prices increased 0.33% in July over the previous month, slowing down from June's 0.72% increase. July's result marked the weakest reading since April. Looking at the details of the release, prices for housing, water, electricity, gas and other fuels increased at a faster rate in July, while prices for transportation dropped after growing in the previous month. Meanwhile, food and non-alcoholic beverages prices increased. Moreover, prices for recreation and culture dropped.

Inflation held steady at June's 7.8% in July. The trend pointed up, with annual average inflation coming in at 4.8% in July (June: 4.4%). Lastly, harmonized inflation edged down to 8.0% in July, from the previous month's 8.1%.

FocusEconomics Consensus Forecast panelists see harmonized inflation averaging 6.0% in 2022, which is up 0.5 percentage points from the prior month’s projection, and 2.9% in 2023.


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Finland Inflation July 2022

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


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