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Inflation declines to 1.2% in May as vegetables price falls

Inflation declines to 1.2% in May as vegetables price falls

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

In April, inflation stood at 1.5 per cent. The decline in inflation was caused by lower prices of vegetables, for example.

Consumer prices were raised most in May by increases in the prices of electricity, hotel rooms, capital repairs on detached houses, cigarettes and rents from one year ago.

The rising of consumer prices from one year back was curbed most by reductions in the prices of mobile phones, televisions, detached houses and international flights.

From April to May the month-on-month change of consumer prices was -0.2 per cent, which was caused by vegetables being cheaper, for example.

Each mid-month, Statistics Finland’s interviewers collect altogether around 50,000 prices on nearly 470 commodities from approximately 2,700 outlets for the Consumer Price Index. In addition, some 1,000 items of price data are gathered by centralised collection.