Helsinki, October 14 (FinanceFlashNews.com) – Year-on-year inflation in Finland dropped to its lowest level since December 2020 in September 2024, driven primarily by falling fuel and electricity prices. This report is based on data from MarketWatch.
According to the latest statistics, Finland’s annual inflation rate fell to 0.8% in September from 1.2% in August 2024. This decline was mainly fueled by a deeper drop in transportation costs, which decreased by 2.6% compared to a 2% decline in August, largely due to lower gasoline and diesel prices.
Declining Energy and Transportation Costs
In addition to transportation, housing and electricity prices also fell, dropping by 0.2% in September, a contrast to the 1.4% increase recorded in August. These reductions played a major role in bringing down Finland’s overall inflation rate.
Rising Food Prices
Conversely, food, beverages, and tobacco prices rebounded, rising by 0.5% in September after stagnating in August. Similarly, the price increase for various goods and services slowed to 3.7%, down from 4% in August.
Month-on-Month Price Increase
On a monthly basis, consumer prices in Finland increased by 0.3% in September, reversing the 0.5% decline seen in August. This represents the largest monthly price hike since February 2024.
Table: Finland’s Inflation Trends (September 2024)
| Indicator | Value (%) |
|---|---|
| Year-on-Year Inflation (September) | 0.8% |
| Year-on-Year Inflation (August) | 1.2% |
| Decline in Transportation Costs | -2.6% |
| Decline in Housing and Electricity | -0.2% |
| Rise in Food, Beverages, and Tobacco | +0.5% |
| Month-on-Month Consumer Price Increase | +0.3% |
Key words: Finland inflation, fuel prices, electricity prices, consumer prices, MarketWatch
