FX.co ★ Finnish Inflation Hits 26-Month High

Finland’s annual inflation rate accelerated to 2.1% in May 2026, up from 1.5% in April, marking the fastest pace since March 2024. The increase was driven primarily by higher housing and utilities costs, which rose by 0.6% after a 0.3% decline in the previous month, and by transport prices, which climbed 7.1% compared with 5.3% in April, largely due to more expensive fuel.

Prices also rose more sharply in several other categories. Health costs increased 6.2% year-on-year, up from 3.6%, mainly reflecting higher prices for reimbursable prescription medicines. Furnishings, household equipment and routine household maintenance costs advanced 4.3%, compared with 3.4% in the prior month. Education prices remained unchanged at a high 11.5% annual increase.

By contrast, inflation eased for food and non-alcoholic beverages, where price growth slowed to 1.1% from 1.7%, and for information and communication services, where inflation moderated to 4.3% from 5.2%.

On a monthly basis, consumer prices rose 0.5% in May, quickening from a 0.1% increase in April. Harmonized consumer prices, the European Central Bank’s preferred inflation gauge, rose 2.8% year-on-year, after a 2.4% increase in the previous period.