Inflation eases in Feb as fuel prices drop

The year-on-year change in consumer prices reduced slightly to 0.6 per cent in February, according to Statistics Finland.

In January, inflation stood at 0.8 per cent. The drop in inflation from January to February was mainly caused by a decrease in the petroleum prices.

Consumer prices rose most in February from one year ago following increases in cigarette prices and vehicle tax and rents.

The rise in consumer prices from one year back was curbed most by a decline in the costs of children’s day-care services, the prices of mobile telephones and petroleum, as well as housing loan interest rates.

From January to February, consumer prices changed 0.3 per cent driven mainly by a price rise of international flights and package holidays.

At the middle of every month, Statistics Finland’s interviewers collect around 50,000 prices on nearly 470 commodities from approximately 2,700 outlets to construct the Consumer Price Index. In addition, some 1,000 price data are gathered through centralised collection.