Financial News: Finland Inflation Eases Slightly In November, Economic Out

Finland Inflation Eases Slightly In November, Economic Output Shrinks Further

12/13/2024 - 02:42:00 (RTTNews)

(RTTNews) - Finland's consumer price inflation moderated marginally after rising in the previous month, while economic output fell for the second straight month, separate reports from Statistics Finland showed on Friday.

The consumer price index rose 1.0 percent year-over-year in November, slower than the prior month's 1.1 percent gain.

The rise in inflation was curbed most by reductions in the average interest rate on housing loans and the prices of petrol and diesel, the agency said.

The annual price decline in transport charges softened to 1.5 percent in November from 2.05 percent in October. Clothing and footwear prices increased 1.91 percent, and those for housing and utilities decreased 0.11 percent.

Compared to the previous month, consumer prices fell 0.4 percent in November, versus a 0.5 percent drop in October.

The EU measure of the Harmonized Index, or HICP, rose at a faster pace of 1.7 percent in November versus 0.5 percent a month ago.

Separate data showed that Finland's economic output dropped 0.5 percent annually in October, slower than the 1.0 percent fall in the previous month. Nonetheless, seasonally adjusted output grew by 0.4 percent from the month before.

Among sectors, primary production grew 1.4 percent from last year, while the secondary sector declined 1.7 percent, and service industries stagnated in October.

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