Inflation remains at 7.8% in July

The year-on-year change in consumer prices calculated by Statistics Finland was 7.8 per cent in July, according to Statistics Finland.

In June, inflation stood also at 7.8 per cent.

Consumer prices were raised most in July by increases in the prices of electricity, petrol, diesel, and capital repair on 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, non-refundable prescription medicines, regular ferry service and audio and video recordings.

The month-on-month change of consumer prices was 0.3 per cent, which was caused by higher prices of electricity, average interest rate on housing loans and mature cheese products. This increase was diminished by lower prices of petrol and diesel.

According to the preliminary data on the Harmonised Index of Consumer Prices (HICP), the rate of inflation in the euro area was 8.9 per cent in July. In June, it stood at 8.6 per cent. The corresponding figure for Finland was 8.0 per cent in July.