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Inflation remains at zero despite price fluctuations

The price of long-distance bus tickets and mobile services increased, but petrol, diesel and hotel fees fell.

Nainen menossa sisään ruokakauppaan.
The figures are based on preliminary data released by Statistics Finland. Image: Henrietta Hassinen / Yle

The inflation rate in Finland did not rise or fall in June, according to the latest preliminary data released by Statistics Finland, despite prices dropping for certain products and services.

In May, the inflation rate was -0.2 percent, meaning that overall consumer prices actually fell.

Increases in the cost of long distance bus journeys and mobile phone services pushed up the Consumer Price Index (CPI).

This was offset however by a fall in prices for petrol, diesel and hotel rooms.

The Consumer Price Index measures the average change in prices that consumers pay for goods and services over a certain period of time. The steady rate of inflation from May to June suggests Finland has not yet experienced lower demand or lower economic activity, despite Statistics Finland data released in May indicating the economy had entered recession.

Statistics Finland collects 44,000 prices on nearly 470 commodities from approximately 2,700 outlets every month, and uses the data to calculate the EU’s Harmonised Index of Consumer Prices (HICP).

According to this calculation, Finland's inflation rate was slightly lower than that of the whole eurozone, which was 0.3 percent in June.

Compared to the same month last year, inflation has dropped by one percent.

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