Finland: Inflation slows in January

Consumer prices fell 0.4% in January compared to the previous month (December: -0.1% month-on-month). The result in January was due to lower prices for transport, and clothing and footwear. On the other hand, prices for food and non-alcoholic beverages rose in January, limiting the overall price decline. The Harmonized Index of Consumer Prices (HICP)—which does not include certain factors such as the vehicles tax or fishing and hunting fees—showed a 0.4% price decrease for January (December: -0.2% mom).

Inflation decelerated to 1.1% in January from 1.2% in December. HICP inflation, meanwhile, slowed to 1.2% in January from 1.3% in December.

Finland Inflation Forecast

FocusEconomics Consensus Forecast panelists expect CPI inflation to average 1.3% in 2019, which is down 0.1 percentage points from last month’s estimate. In 2020, our panelists see inflation averaging 1.6%.