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Finland Inflation

Finland Inflation

Inflation in Finland

Harmonized consumer price inflation averaged 1.6% in the ten years to 2022. The 2022 average figure was 7.2%. For more inflation information, visit our dedicated page.

Finland Inflation Chart

Note: This chart displays Inflation (HICP, ann. var. %, aop) for Finland from 2014 to 2023.
Source: Statistics Finland.

Finland Inflation Data

2018 2019 2020 2021 2022
Inflation (HICP, ann. var. %, aop) 1.2 1.1 0.4 2.1 7.2
Inflation (CPI, ann. var. %, eop) 1.2 0.9 0.2 3.5 9.1
Inflation (CPI, ann. var. %, aop) 1.1 1.0 0.3 2.2 7.1
Inflation (HICP, ann. var. %, eop) 1.3 1.1 0.2 3.2 8.8
Inflation (PPI, ann. var. %, aop) 4.8 0.4 -4.6 12.7 24.2

Harmonized inflation rises in December

Harmonized inflation came in at 1.3% in December, up from November’s 0.7%. Looking at the details of the release, the acceleration chiefly reflected an increase in price pressures for transportation. In addition, housing and utilities prices fell at a more moderate pace in December compared to the previous month. Still, the trend pointed down, with annual average harmonized inflation falling to 4.3% in December (November: 5.0%). Meanwhile, consumer price inflation rose to 3.6% in December, from the previous month's 3.3%. Lastly, harmonized consumer prices rose 0.23% in December over the previous month, contrasting the 0.50% fall seen in November.

Despite December’s uptick, harmonized inflation remained below the ECB’s 2.0% target for the second consecutive month since August 2021. Going forward, harmonized inflation is set to average above current levels, but below the ECB’s target. The lagged impact of higher interest rates in 2023 and a higher base of comparison will keep a lid on inflation in coming quarters.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Finnish inflation projections for the next ten years from a panel of 14 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Finnish inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Finnish inflation projections.

Want to get access to the full dataset of Finnish inflation forecasts? Send an email to

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