Consumer price index, 15 February 2001

In February 2001 the CPI stood at 108.4 (1998=100), while in February 2000 it was 104.6.

Price increase from January to February 2001

A rise in the prices of different energy products contributed most to the price change last month. The prices of petrol went up by 2.9 per cent, while electricity tariffs increased by 2.4 per cent. The prices of paraffin and heating oil increased too.

A lot of commodities showed an increase after the end of the winter sales that usually takes place in January every year. The prices of furniture and household textiles rose by 3.1 and 5.5 per cent respectively, while household appliances had a price increase of 2.3 per cent. The prices of clothing and footwear went up by 2.1 per cent. The prices of clothing showed a larger increase than the prices of footwear. Audio-visual equipment had a price increase of 2.7 per cent last month.

The prices of different services for social protection went up last month. Both the fees for kindergarten and outpatient services rose. The prices of medical products showed an increase of 1.5 per cent.

Year-to-year change

From February 2000 to February 2001 the CPI increased by 3.6 per cent. Higher rentals for housing and increased prices of energy products are major contributors to the price growth. Electricity tariffs are more than 11 per cent higher than the prices in February last year and the prices of paraffin and heating oil have risen by 23.4 per cent. Higher prices of products and services for maintenance of dwellings also influenced the year to year change in February.

The price index for transport has increased by 4.5 per cent. This is due to a rise in prices of vehicles at 3.1 per cent and a sharp increase in the prices of passenger transport by road and air. Petrol prices had remarkably high year-to -year change rates throughout 2000, but started to decrease at the end of 2000. Due to the price increase in February 2001, the prices are 1.8 per cent higher than in February last year. The prices of maintenance of vehicles have influenced the year to year change as well.

Higher prices of hairdressing and some appliances for personal care and clothing contributed to the year to year change last month. Prices of different services for social protection also explain the price increase from February 2000 to February 2001.

Lower prices of audio-visual equipment and telephone products have offset the price increase. In particular the prices of IT-equipment have decreased during the last 12 months.

The year-to-year growth increased from 3.4 per cent in January to 3.6 per cent in February. This was mainly due to the price development of electricity, clothing, audio-visual equipment, furniture, household appliance, petrol and air transport. The increase in the year to year change was offset by a slight decrease in the prices of food.