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Inflation rate up slightly in July

The year-on-year change in consumer prices in Finland, otherwise known as inflation, stood at 0.5 percent in July compared to a year ago. The inflation rate in the month of June was 0.4 percent.

Kaupan kassa.
File photo. Image: Jyrki Lyytikkä / Yle

According to Statistics Finland, the inflation rate for the month of July stood at 0.5 percent.

The agency said the slight rise was driven by higher prices for things like vehicle taxes, and hospital and dentist fees.

A further rise was curbed most by lower prices for liquid fuels and average housing loan interest rates from the previous year, Statistics Finland said.

Examined in the short-term, the rise of inflation was mostly influenced by higher prices of cigarettes and EU package tours, the agency said.

Every month Statistics Finland collects nearly 50 thousand prices on nearly 500 commodities from around 2,700 outlets for the Consumer Price Index.

Agricultural product prices down

In light of overall inflation rates, prices of agricultural products in Finland fell by nearly two percent in the second quarter compared to a year ago.

Statistics Finland says that despite a recent increase, dairy product prices are currently below what they were at the beginning of the decade.

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