Inflation climbs to 3.7% in November

The year-on-year change in consumer prices was 3.7 per cent in November, according to Statistics Finland.

In October, inflation stood at 3.2 per cent. The increase in inflation was mainly caused by higher prices of fuels.

Consumer prices were raised most in November by increases in the prices of petrol, capital repair on detached houses, diesel, and electricity 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 October to November, consumer prices rose by 0.4 per cent which was caused by higher prices of fuels, for example.

Each mid-month, Statistics Finland's interviewers collect altogether 19,000 prices on nearly 400 commodities from about 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.