Inflation in Finland

Finland Inflation | Economic News & Forecasts

Finland - Inflation

Consumer prices decline at more moderate pace in May

Consumer prices fell 0.02% in May over the last month, a softer drop than the 0.34% decline seen in April. Looking at the details of the release, prices for transportation, and food and non-alcoholic beverages rose, while prices for recreation and culture fell at a more modest pace. In contrast, housing and utilities prices declined in May after rising in April.

Consumer prices fell 0.2% on an annual basis in May, slightly above April’s 0.3% fall. Annual average inflation fell to 0.7% in May (April: 0.8%), the lowest level since May 2018. Lastly, the harmonized consumer prices dropped 0.2% in May, following the 0.3% decrease in the previous month.

FocusEconomics Consensus Forecast panelists expect CPI inflation to average 0.4% in 2020, which is down 0.2 percentage points from last month’s estimate. In 2021, our panelists see inflation averaging 1.2%.

Finland - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)-0.2  0.4  0.8  1.1  1.0  

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Finland Inflation Chart


Finland Inflation
Note: Annual variation of harmonized index of consumer prices (HICP) in %.
Source: Statistics Finland.

Finland Facts

Value Change Date
Bond Yield0.033.70 %Dec 30
Exchange Rate8.78-0.38 %Jan 01

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Economic News

  • Finland: Economic activity drops at sharpest rate in over a decade in April

    June 16, 2020

    Economic activity fell 7.9% year-on-year in working-day adjusted terms in April, worsening from March’s downwardly-revised 5.7% decrease (previously reported: -2.7% year-on-year) and marking the sharpest fall since November 2009. April’s downturn was driven by shrinking output in the services sector, which contracted at a markedly faster pace than in the month prior.

    Read more

  • Finland: Consumer prices decline at more moderate pace in May

    June 15, 2020

    Consumer prices fell 0.02% in May over the last month, a softer drop than the 0.34% decline seen in April.

    Read more

  • Finland: Current account deficit reduces in April

    June 12, 2020

    The current account deficit slimmed to EUR 0.3 billion in April, down markedly from the EUR 1.2 billion shortfall recorded in March 2020 and the EUR 4.6 billion deficit lodged in April 2019. In the 12 months leading up to April, the current account balance logged a surplus of EUR 0.9 billion, up sharply from March’s EUR 3.3 billion deficit and marking the first surplus recorded for a 12-month period since September 2011. The merchandise trade balance came in at a EUR 0.3 billion surplus in April following the EUR 0.2 billion surplus recorded in March (April 2019: EUR 0.3 billion deficit).

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  • Finland: Economy records sharpest contraction since Q1 2015

    May 29, 2020

    GDP fell at a steeper rate of 0.9% on a seasonally-adjusted quarter-on-quarter basis in Q1 2020, coming in below the 0.6% contraction tallied in Q4 2019 and marking the second successive quarter of contracting activity.

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  • Finland: Economic activity drops at sharpest rate in over seven years in March

    May 15, 2020

    Economic activity fell 2.7% year-on-year in working-day adjusted terms in March, contrasting February’s revised 1.2% increase (previously reported: +1.0% year-on-year) and marking the sharpest fall since March 2013. The broad-based decline was driven by shrinking output in both the secondary—which includes manufacturing and construction—and services sectors.

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