FX.co ★ Finland Inflation Eases To 5.6%, Lowest In 18 Months

Finland's consumer price inflation moderated in August to the lowest level in one-and-a-half years, largely due to the adjustment of the price index of electricity, preliminary data from Statistics Finland showed on Thursday.

The consumer price index climbed 5.6 percent year-over-year in August, slower than July's 6.5 percent gain.

Further, this was the lowest inflation rate since February 2022, when prices had risen 4.53 percent.

The rise in consumer prices from one year back was curbed most by reductions in the prices of electricity, petrol and real estate, the agency said.

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

Among the major components, prices of food and non-alcoholic beverages alone grew 6.8 percent annually in August, though slower than the 8.15 percent surge a month ago.

Utility costs were 8.14 percent higher annually in August. Meanwhile, transport costs dropped 0.81 percent amid lower fuel costs.

Compared to the previous month, consumer prices dropped 0.7 percent in August versus a 0.5 percent rise in the prior month.

The EU measure of the harmonized index, or HICP, climbed 3.13 percent annually in August versus a 4.18 percent rise in the prior month. Compared to July, the HICP dropped 1.1 percent.