Consumer prices in Finland rose by 1.9 percent in June compared to the same month last year. This data comes from preliminary figures released by Statistics Finland. The increase shows a small slowdown compared to May when inflation was recorded at 2.0 percent annually.
The harmonised index of consumer prices, known as HICP, is the key measure used for comparing inflation internationally. The HICP excludes costs related to housing loan interest rates and other credit expenses. This makes it a more standardized indicator across countries.
Among all consumer goods and services, health care costs showed the sharpest rise in Finland. They increased by 7.3 percent year-on-year, making them the main driver behind the inflation rate. Alcoholic beverages and tobacco prices also increased significantly, by roughly 4 percent. Food and non-alcoholic drinks saw a smaller rise of about 2.5 percent.
Looking beyond Finland, inflation across the eurozone reached 2.0 percent in June according to Eurostat. This is a slight increase from May’s rate of 1.9 percent. Services experienced the highest inflation within the eurozone, with prices up by 3.3 percent compared to the previous year.
Food, alcohol, and tobacco prices increased by 3.1 percent across the eurozone on a yearly basis. Unprocessed food items, such as fresh vegetables and meat, recorded even higher inflation of 4.6 percent.
Among eurozone countries, Estonia had the highest inflation rate in June, reaching 5.2 percent.
