Inflation reduces slightly to 7.6% in Aug

The year-on-year change in consumer prices was 7.6 per cent in August, according to Statistics Finland.

In July, inflation stood at 7.8 per cent. The drop in inflation from July to August was caused, for example, by a milder rise in petrol prices.

Consumer prices were raised most in August by increases in the prices of electricity, petrol, diesel, and capital repairs on detached house from one year ago.

The rising of consumer prices from one year back was curbed most by reductions in the prices of refundable and non-refundable prescription medicines.

The month-on-month change of consumer prices was 0.1 per cent, which was caused by higher prices of electricity.

According to the preliminary data on the Harmonised Index of Consumer Prices (HICP), the rate of inflation in the euro area was 9.1 per cent in August. In July, it stood at 8.9 per cent. The corresponding figure for Finland was 7.9 per cent in August.