Consumer price index, 15 June 2010

The consumer price index (CPI) was 128.8 (1998=100) per June 2010, compared to 126.4 at the same time in 2009. This corresponds to a year-to-year growth of 1.9 per cent in June 2010, down from 2.5 per cent in the previous month. The year-to year growth in the CPI-ATE was 1.3 per cent in June 2010.

Price-falls on electricity and food

The prices on electricity included grid tariff decreased by 4.6 per cent from May to June 2010. This was the main contributor to the fall in the CPI of 0.1 per cent. Additionally, food and non-alcoholic beverages decreased by 1.1 per cent. Some summer sales activity on clothing and furniture had already started in June, with prices falling 2.0 and 1.9 per cent respectively from May.

On the opposite, several services related to holidays showed increasing prices from May to June this year. The prices on airline fares rose by 36.2 per cent, and although this was a considerable increase, it did not exceed the rise in the same period last year. Prices on package holidays went up by 4.3 per cent from the corresponding survey in June 2009. Accommodation services showed increased prices from May to June this year.

Further fall in the year-to-year growth

The year-to-year growth in the CPI fell by 0.6 percentage points from May to June 2010, down from 2.5 per cent in May to 1.9 per cent in June. Prices on energy goods, such as fuels and electricity, contributed most to this decrease. Prices on fuels and lubricants decreased by 0.7 per cent from May to June this year, compared to an increase of 5.1 per cent in the same period last year. And while the prices on electricity including grid tariff fell by 4.6 per cent from May to June this year, they only decreased by 0.1 per cent in the same period last year. Declining prices on food was another important contributor to the lower year-to-year growth.

In June 2010, the year-to-year growth was 1.3 per cent in the CPI-ATE, mainly due to price-falls on food and clothing.

Year-to-year growth in the CPI

Several goods and services had an increase in prices from June 2009 to June 2010, hereby contributing to the year-to-year growth of 1.9 per cent. Prices on electricity including grid tariff rose 16.4 per cent in the period, while imputed rentals for housing increased by 2.3 per cent. Prices on recreational and cultural services went up by 6.6 percent from June 2009 to June 2010, while prices on fuels and lubricants rose by 4.1 per cent. Restaurant services and books also had increasing prices.

However, the year-to-year growth was dampened by falling prices in some major consumer groups such as clothing and food, down 4.0 and 1.4 per cent respectively. The price development on audiovisual equipment contributed in the same direction.

Tables

Published tables