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Financial News: Finland Inflation Slows To 2.2%, Lowest In 31

Finland Inflation Slows To 2.2%, Lowest In 31 Months

04/15/2024 - 02:41:00 (RTTNews)

(RTTNews) - Finland's consumer price inflation moderated further in March to the lowest level in just over two-and-a-half years, preliminary data from Statistics Finland showed on Monday.

The consumer price index climbed 2.2 percent year-over-year in March, slower than the prior month's 3.0 percent gain.

Further, this was the weakest inflation rate since August 2021, when prices had risen the same 2.2 percent.

The decrease in inflation in March was caused by a milder rise in the average interest rate on housing loans and lower prices of electricity, the agency said.

The annual decline in food and non-alcoholic beverages deepened to 1.7 percent from 0.5 percent in February.

Compared to the previous month, consumer prices dropped 0.1 percent in March, reversing a 0.5 percent gain in the prior month.

The EU measure of the harmonised index, or HICP, climbed 0.6 percent annually in March, slower than the 1.1 percent increase a month ago.

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