Inflation stands at 0.5% in July

The year-on-year change in consumer prices calculated by Statistics Finland was 0.5 per cent in July.

According to Statistics Finland, the inflation stood at 0.7 per cent in July.

Consumer prices were raised most in July from one year ago by increases in the vehicle tax, electricity, cigarettes and rents.

The rising of consumer prices was curbed most by reductions in prices of mobile phones, games of chance and used cars and decreases in housing loan interest rates.

From June to July, consumer prices changed by -0.3 per cent.

Each mid-month, Statistics Finland's interviewers collect altogether around 50,000 prices on nearly 470 commodities from approximately 2,700 outlets for the Consumer Price Index.

In addition, some 1,000 items of price data are gathered by centralised collection.