Finland Consumer Prices Fall 0.2% In October

(RTTNews) - Finland's consumer prices fell for the first time in more than five years in October, data from Statistics Finland showed on Friday.

The consumer price index dropped 0.2 percent year-over-year in October, reversing a 0.5 percent rise in September. Further, this was the first deflation since July 2020.

The rise in consumer prices from one year ago was curbed most by the average interest rate on housing loans, interest on consumer credit, and electricity, the agency said.

Housing and utility costs declined at a faster pace of 2.99 percent versus 1.45 percent in September. Transport charges were 0.93 percent less expensive.

Data showed that inflation based on food and non-alcoholic beverages moderated to 1.59 percent from 2.47 percent.

Compared to the previous month, consumer prices decreased 0.2 percent, following a 0.3 percent rebound in September.

The EU measure of the Harmonized Index, or HICP, rose at a slower rate of 1.4 percent annually in October versus a 2.2 percent increase a month ago.