Inflation drops slightly to 1.3% in June

The year-on-year change in consumer prices was 1.3 per cent in June, according to Statistics Finland.

In May, inflation stood at 1.5 per cent. The decrease of inflation from May to June was caused by a milder rise in average interest rate on housing loans and lower prices of package international holidays outside the EU.

Consumer prices were raised most in June 2024 by increases in average interest rate on housing loans, consumer credits and maintenance charges from one year ago.

The rising of consumer prices from one year back was curbed most by reductions in the prices of electricity, children's day care and real estates.

The month-on-month change of consumer prices was minus 0.0 per cent.

The core inflation of Consumer Price Index was 3.3 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.

According to preliminary data, inflation in the euro area was 2.5 per cent in June 2024.

According to the preliminary data on the Harmonised Index of Consumer Prices (HICP), the rate of inflation in the euro area was 2.5 per cent in June. In May, it stood at 2.6 per cent. The corresponding figure for Finland was 0.5 per cent in June.