Finland Inflation Highest Since March 2024

(RTTNews) - Finland's consumer price inflation accelerated slightly in August to the highest level in nearly two-and-a-half years, data from Statistics Finland showed on Monday.

The consumer price index rose 2.2 percent year-over-year in August, following a 2.1 percent increase in July. Moreover, a similar inflation rate was last seen in March 2024.

Inflation based on transportation quickened to 7.3 percent from 5.8 percent amid higher fuel costs. The annual price growth in food and non-alcoholic beverages accelerated to 1.6 percent from 0.7 percent.

The deflation in clothing and footwear prices eased to 1.4 percent from 1.6 percent, while housing and utilities inflation softened to 1.3 percent from 2.1 percent.

On a monthly basis, consumer prices dropped 0.2 percent, reversing a 0.2 percent increase in July.

The EU measure of inflation, the harmonized index of consumer prices, rose at a slightly slower pace of 2.4 percent yearly in August versus 2.5 percent in the prior month. Monthly, the HICP dropped 0.3 percent.