Inflation rises to 1.2% in August

The year-on-year change in consumer prices was 1.2 per cent in August 2024, according to Statistics Finland.

In July, inflation stood at 1.0 per cent. The core inflation of Consumer Price Index was 2.1 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.

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

The rising of consumer prices from one year back was curbed most by reductions in the prices of electricity, petrol and diesel.

The month-on-month change of consumer prices was minus 0.5 per cent, which was caused by lower prices of electricity and international flights.