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Financial News: Finland Inflation Rises To 3.6%

Finland Inflation Rises To 3.6%

01/15/2024 - 05:31:00 (RTTNews)

(RTTNews) - Finland's consumer price inflation increased for the first time in five months in December, though slightly, preliminary data from Statistics Finland showed on Monday.

The consumer price index climbed 3.6 percent year-over-year in December, faster than the prior month's 25-month low of 3.3 percent gain.

The overall inflation in December was primarily due to increases in the average interest rate on housing loans, consumer credits, and the costs of package international holidays outside the EU, the agency said.

On the other hand, the rise in inflation was curbed by reductions in prices for electricity, owner-occupied flats, and real estate.

Among the major components, prices for food and non-alcoholic beverages grew 2.3 percent annually in December, though slower than the 3.0 percent rise a month ago.

Utility costs were 4.54 percent higher annually in December, while health costs dropped by 2.58 percent.

Compared to the previous month, consumer prices rebounded 0.3 percent in December, after a 0.3 percent fall in the prior month.

The EU measure of the harmonised index, or HICP, climbed 1.3 percent annually in November, faster than the 0.7 percent increase a month ago.

The overall inflation for the whole year 2023 was 6.2 percent, versus 7.1 percent in 2022.

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