Consumer price index, 15 September 2003

The CPI stood at 112.5 (1998=100) in September this year compared with 110.2 in September last year.

Consumer prices up 0.5 per cent from August to September

The consumer prices rose by 0.5 per cent from August to September. The tariffs on electricity are among the largest contributors to the growth in the CPI. The tariffs on electricity increased by 5.2 per cent in September, which is a smaller rise compared with August. Only the electricity prices rose, while the cost connected to transporting energy remained unchanged. The CPI excluding electricity went up by 0.3 per cent from August.

In addition to the tariffs on electricity, the price development of clothing and footwear contributed to a large extent to the increase in the CPI from August to September as well. In contrast to falling prices of clothing and footwear over the past three months due to summer sales, the prices of clothing and footwear as a total increased by 3.3 per cent in September. The prices of footwear rose by 4.2 per cent, while the prices of clothing went up by 3.2 per cent.

The prices of food increased by 0.7 per cent in September. Services connected to education and accommodation showed a price rise as well. Educational expenditures increased by 6.9 per cent from last survey in January, while the prices of accommodation services went up 3.4 per cent from August.

A price decline of petrol, household textiles and some products of telephone equipment contributed to moderate the growth in the consumer prices from August to September.

Year-to-year change: Tariffs on electricity contribute to price growth

The CPI has increased by 2.1 per cent from September 2002 to September 2003. Tariffs on electricity are the largest single contributor to the year-to-year growth in the consumer prices. Followed by price increases the past two months, the tariffs on electricity are 33.8 per cent higher compared with the same period last year. The CPI excluding electricity has risen by 0.9 per cent from September last year. The tariffs on electricity therefore increase the consumer price growth by 1.2 percentage points.

The cost for owner-occupied housing and rentals for housing have gone up by 4.0 and 3.9 per cent respectively from September 2002 to September 2003 and have thereby contributed to the CPI growth. The same applied to the prices of food that have increased by 3.7 per cent during the period. Particularly the prices of fresh vegetables have gone up.

The prices of clothing counteracted the increase in the consumer prices during the last 12 months. Despite a price rise of clothing from August to September, the prices are 12.3 per cent lower in September this year compared with September last year. The growth in the consumer prices was also dampened by a price decrease of audiovisual equipment.

The CPI excluding energy products (CPI-AE) has increased by 1.0 per cent from September 2002 to September 2003. Energy products therefore pull the consumer price growth up by 1.1 percentage points.

The year-to-year change in the CPI adjusted for tax changes (CPI-AT) fell from 2.1 per cent in August to 1.9 per cent in September. The CPI-ATE was 0.9 per cent in September, the same as in August.

As of September 2003 a new method for calculating the indices for alcoholic beverages sold through the State wine and liquor monopoly is being used. For more information see: About the statistics .