Financial News: Finland Inflation Eases To 0.7%, Lowest In 4

Finland Inflation Eases To 0.7%, Lowest In 4 Years

01/14/2025 - 02:57:00 (RTTNews)

(RTTNews) - Finland's consumer price inflation moderated in December to the lowest level in four years amid cheaper utility costs, data from Statistics Finland showed on Tuesday.

The consumer price index rose 0.7 percent year-over-year in December, slower than the prior month's 1.0 percent gain.

Further, this was the weakest inflation since December 2020, when prices had risen only 0.2 percent.

The decrease in inflation was mainly caused by lower average interest rates on housing loans and lower prices of electricity, the agency said.

The annual decline in utility costs deepened to 1.0 percent in December from 0.11 percent a month ago. Meanwhile, the price growth in clothing and footwear eased to 0.98 percent from 1.91 percent, and prices of food and non-alcoholic beverages rose at a slower pace of 0.51 percent.

The EU measure of the Harmonized Index, or HICP, rose at a slightly slower pace of 1.6 percent in December versus 1.7 percent a month ago.

Compared to the previous month, consumer prices edged down 0.1 percent in December after a 0.4 percent drop in November.

The average annual inflation rate for the year 2024 was 1.6 percent.

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