• The Financial District

FINLAND REPORTS ZERO INFLATION RATE

The price of long-distance bus tickets and mobile services increased, but petrol, diesel and hotel fees fell, assuring the people of Finland that they would enjoy zero inflation rate, the Finnish Yle news reported late on July 15, 2020.

The inflation rate in Finland did not rise or fall in June, according to the latest preliminary data released by Statistics Finland, despite prices dropping for certain products and services.


In May, the inflation rate was -0.2 percent, meaning that overall consumer prices actually fell.


Increases in the cost of long distance bus journeys and mobile phone services pushed up the Consumer Price Index (CPI.) This was offset however by a fall in prices for petrol, diesel and hotel rooms. The Consumer Price Index measures the average change in prices that consumers pay for goods and services over a certain period of time. The steady rate of inflation from May to June suggests Finland has not yet experienced lower demand or lower economic activity, despite Statistics Finland data released in May indicating the economy had entered recession.


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