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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 drops to near three-year low in November

Harmonized inflation dropped to 0.7% in November, following October’s 2.4%. November's figure marked the weakest inflation rate since December 2020. Looking at the details of the release, the deceleration was driven by moderating price pressures for food and non-alcoholic beverages and easing price pressures for housing and utilities. Moreover, prices for recreation grew at a more subdued pace. Accordingly, the trend pointed down, with annual average harmonized inflation falling to 5.0% in November (October: 5.7%). Meanwhile, consumer price inflation fell to 3.3% in November, from the previous month's 4.9%. Finally, harmonized consumer prices fell 0.50% over the previous month in November, swinging from the 0.23% increase recorded in October. November's result marked the weakest reading since August.

November’s print marked the first time that harmonized inflation fell below the ECB’s 2.0% target since August 2021. The lagged effects of restrictive monetary policy this year and a more challenging base of comparison will keep a lid on inflation in the coming months.

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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