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Inflation rate slows slightly in April

The biggest downward contribution to April's inflation rate came from a slower rise in fuel costs.

Hikes in April's consumer prices were primarily driven by increases in electricity, petrol, diesel and home repair costs. Image: Henrietta Hassinen / Yle

Finland's inflation rate slowed slightly during the month of April, according to data published on Friday by Statistics Finland.

The year-on-year change in consumer prices calculated by the statistics agency was 5.7 percent in April, while in March, inflation stood at 5.8 percent.

The agency noted that the biggest downward contribution to April's inflation rate came from a slowdown in the rising prices of liquid fuels.

However, the hikes in April's consumer prices were primarily driven by increases in electricity, petrol, diesel and house repair costs, while reductions in the costs of daycare, prescription medicine, eyeglasses and the average interest rates on housing loans kept the inflation rate slightly below the March level.

Long-distance drivers, homeowners suffer from price surge

The spike in petrol prices may become an issue for people commuting long distances by car, noted Kristiina Nieminen, a senior statistician at Statistics Finland.

Rising building material costs will also cause headaches for homeowners conducting renovations.

Nieminen said consumer price increases like this haven't been seen since the 1980s.

The highest annual price increases by commodity group were recorded for transport (up 12.5 percent), while clothing and footwear showed the lowest increase (0.16 percent).

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