Inflation drops slightly to 4.9% in October

The year-on-year change in consumer prices was 4.9 per cent in October, according to Statistics Finland.

In September, inflation stood at 5.5 per cent.

The rising of consumer prices from one year back was curbed most by reductions in the prices of electricity, owner-occupied flats and real estates.

Consumer prices were raised most in October by increases in average interest rate on housing loans, consumer credits and the prices of package international holidays within the EU from one year ago.

The month-on-month change of consumer prices was 0.3 per cent, which was caused by increases in average interest rate on housing loans and prices of package international holidays within the EU, for example.

The core inflation of Consumer Price Index was 6.6 per cent. Core inflation does not include food and energy price changes, as the short-term price fluctuations in these are higher compared to other commodity groups.

The price index of electricity was adjusted downward in September 2023.