2023.10.1309:04:00UTC+00Finland Inflation Hits 19-Month Low In September

Finland's consumer price inflation moderated slightly in September to the lowest level in just over one-and-a-half years, preliminary data from Statistics Finland showed on Friday.

The consumer price index climbed 5.5 percent year-over-year in September, slightly slower than the prior month's 5.6 percent gain.

Further, this was the lowest inflation rate since February 2022, when prices had risen 4.5 percent.

The rise in consumer prices from one year ago was curbed most by reductions in the prices of electricity, real estate, and owner-occupied flats, the agency said.

On the other hand, consumer prices were raised the most by rises in average interest rates on housing loans, consumer credit, and the prices of district heating.

Among the major components, prices of food and non-alcoholic beverages alone grew 4.6 percent annually in September, though slower than the 6.8 percent surge a month ago.

Utility costs were 8.41 percent higher annually in September. Meanwhile, health costs dropped by 2.59 percent. The rise in transport charges was only 0.46 percent.

Compared to the previous month, consumer prices rebounded 0.7 percent in September, versus a 0.7 percent fall in the prior month.

The EU measure of the harmonised index, or HICP, climbed 3.0 percent annually in September versus a 3.1 percent rise in the prior month. Compared to August, the HICP gained 0.6 percent.