Inflation climbs to 3.2% in Oct

The year-on-year change in consumer prices was 3.2 per cent in October, according to Statistics Finland.

In September, inflation stood at 2.5 per cent. The increase in inflation was caused by higher prices of capital repair on detached houses etc.

Consumer prices were raised most in October by increases in the prices of capital repair on detached houses, petrol, electricity, diesel, and detached houses from one year ago.

The rising of consumer prices from one year back was curbed most by reductions in the prices of children’s day care, average interest rate on housing loans and consumer credit, medical examination and treatment fees, and games of chance.

From September to October, consumer prices rose by 0.8 per cent which was caused by higher prices of electricity.

Each mid-month, Statistics Finland's interviewers collect altogether 19,000 prices on nearly 400 commodities from approximately 2,100 outlets for the Consumer Price Index.

The price data is supplemented with scanner data wherefrom 5 million individual prices are included into calculation. In addition, some 1,000 items of price data are gathered by centralised collection.