5.5 C
London
Tuesday, December 3, 2024
HomeNewsEuropaFinnish Inflation Falls to 2.2%, Lowest Level in 31 Months

Finnish Inflation Falls to 2.2%, Lowest Level in 31 Months

Date:

Related stories

Gazprom Maintains Stable Gas Deliveries to Europe, Sending 42.3 Million m³ on Monday

Brussels, October 14 (FinanceFlashNews.com) – Gazprom, Russia’s gas producer,...

Markets Anticipate Faster ECB Rate Cuts as Eurozone Inflation Falls

Frankfurt, October 14 (FinanceFlashNews.com) – Financial markets are predicting...

Tax Hike in France Will Hurt Investments, Warns Stellantis CEO

Paris, October 14 (FinanceFlashNews.com) – The French government's plan...

Finland’s Inflation Drops to Lowest Level in Nearly Four Years

Helsinki, October 14 (FinanceFlashNews.com) – Year-on-year inflation in Finland...

Moody’s Downgrades Belgium’s Credit Outlook to Negative

Brussels, October 13 (FinanceFlashNews.com) – Moody's Ratings downgraded Belgium’s...

Helsinki, April 15, 2024: The year-on-year inflation rate in Finland fell again in March to reach its lowest level in 31 months. The consumer price index rose by just 2.2% compared to March 2023, a significant decrease from the 3% increase in the previous month.

The decline in inflation was due to slower growth in mortgage interest rates and lower energy prices. Prices of food and non-alcoholic beverages also fell, by 1.7% year-on-year.

While this is positive news for consumers, inflation still remains above the European Central Bank’s (ECB) 2% target. The ECB is planning to raise interest rates in the coming months in response to rising prices in the eurozone.

Key Points:

  • Inflation rate: 2.2% (year-on-year, March 2024)
  • Lowest level: since August 2021
  • Reasons for decline: Slower growth in mortgage interest rates and lower energy prices
  • Food price decline: -1.7% (year-on-year)
  • HICP: 0.6% (year-on-year)
  • ECB: Plans to raise interest rates

Importance:

The decline in inflation in Finland is good news for consumers and the economy. Lower inflation means people can buy more goods and services for their money, which can lead to increased consumption and economic growth. However, the ECB will continue to monitor inflation closely and take monetary policy action if necessary.

Additional Notes:

  • The decline in inflation in Finland is in line with the trend across the eurozone, where the inflation rate also slowed in March.
  • Despite the decline in inflation, it remains above the ECB’s target of 2%.
  • The ECB is planning to raise interest rates in the coming months in response to rising prices in the eurozone.
Financeflashnewshttps://financeflashnews.com
This article was written by the editorial team of Financeflashnews. We strive to provide you with accurate and up-to-date information from the world of finance and investment. If you find any errors in the article, please let us know at corrections@financeflashnews.com. Your feedback is valuable to us and will help us improve the quality of our content.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories