Helsinki, May 14, 2024 (Financeflashnews) – Finland’s year-on-year inflation rate fell to its lowest level since July 2021 in April 2024, reaching 1.9%. The slowdown in inflation below the 2% target of the European Central Bank (ECB) brought a moderation in price growth, particularly in housing, communications, recreation and culture, restaurants and hotels, and various goods and services. On the other hand, the decline in food, beverage and tobacco prices slowed down, while transport prices fell. Month-on-month, consumer prices stagnated in April.
Key points:
- Inflation: 1.9% (April 2024) – lowest since July 2021
- Slowdown in price growth in housing, communications, recreation and culture, restaurants and hotels, and various goods and services.
- Slowdown in the decline of food, beverage and tobacco prices.
- Transport prices fell.
- Month-on-month stagnation of consumer prices.
Factors affecting inflation:
- Moderation in growth of housing and consumer loan interest rates.
- Economic conditions and price growth.
- Costs of housing, communications, recreation and culture, restaurants and hotels, various goods and services, food, beverages, tobacco and transport.
Outlook:
Inflation in Finland is expected to remain moderate in the coming months. The development will depend on factors such as the global economic situation, energy prices and domestic fiscal policies.
