Consumer price index, 15 April 2007

The CPI was 118.2 (1998=100) per April 2007 compared to 117.9 in the same period last year, which is equivalent to a growth of 0.3 per cent. The year-to-year growth in the CPI-ATE was 1.4 per cent in April, down 0.1 percentage points from March.

Low price growth in last 12 months

The CPI increased by 0.3 per cent from April 2006 to April 2007. Prices of products and services for repair and maintenance of housing increased by 5.6 per cent. Other contributors to the year-to-year growth came from higher prices of food and non-alcoholic beverages and prices of maintenance and repair of personal vehicles, which rose by 2.4 and 2.6 per cent respectively. Prices of a number of services increased from April last year to April this year. Prices of transport services increased by 4.2 per cent, recreation and culture services by 6.7 per cent, and accommodation by 8.2 per cent.

Prices of electricity are 26.5 per cent lower compared to the same period last year. Electricity thus contributed more to the reduction in the year-to-year growth in the CPI compared to previous months. The growth in the CPI adjusted for electricity (CPI-AEL) was 1.5 per cent. Clothing prices fell by 5.4 per cent in the last twelve months and also contributed to dampen the CPI growth. Telephone services and audio-visual equipments also had the same effect, with price decreases of 8.0 and 6.0 per cent respectively.

Strong year-to-year decline

The year-to-year growth in the CPI fell from 1.1 per cent in March to 0.3 per cent in April. The decrease was due to the price development of electricity. Electricity prices fell by 6.0 per cent in April this year, while they increased by 8.9 per cent at the same time last year.

The year-to-year growth in the CPI-ATE fell from 1.5 to 1.4 per cent while CPI adjusted for tax changes (CPI-AT) fell from 0.9 per cent to no change from March to April 2007.

No change in CPI from March to April

There was no change in the CPI from March to April. Following a continued price fall from September last year, electricity prices fell further by 6.0 per cent from March to April. In April, the electricity prices were 38.2 per cent lower than in September last year.

Petrol prices went up by 3.1 per cent and pulled the CPI in the opposite direction. Prices of products used in maintenance and repairs of housing also increased, as did a number of products and services related to recreation and culture, such as boats and boating equipment, and sports and recreation activities.