Consumer price index, 15 December 2012

The Consumer Price Index (CPI) was 132.4 (1998=100) as per December 2012, compared with 130.6 in the corresponding period in 2011. This was equivalent to a year-to-year growth of 1.4 per cent in December, up 0.3 percentage points from November. The year-to year growth in the CPI adjusted for tax changes and excluding energy products (CPI-ATE) was 1.1 per cent in December, down 0.2 percentage points from November.

Annual growth in the CPI was 0.8 per cent in 2012, and the CPI-ATE was 1.2 per cent.

Monthly change - higher electricity prices

The CPI rose by 0.3 per cent from November to December 2012. The main contributor to the overall rise in the CPI was electricity including grid rent with a price increase of 12.1 per cent. Higher energy prices must be seen in connection with the particularly cold and dry weather at the beginning of December.

Prices of food and non-alcoholic beverages together fell by 1.7 per cent from November to December. Food prices fell by 1.4 per cent and non-alcoholic beverages by 3.5 per cent. Discount activity was registered among several of these groups. Prices of fresh fruit, such as apples, citrus fruits and pears, showed the largest fall of 10 per cent on average. Among beverages, it was mineral waters and soft drinks in particular that fell in price.

Year-to-year growth - higher electricity prices

The CPI rose by 1.4 per cent from December 2011 to December 2012. Prices of electricity including grid rent showed an overall increase of 6.6 per cent. Imputed rentals for housing along with higher prices in operation of personal transport equipment also contributed with price increases of 1.8 and 2.9 per cent respectively. Other groups contributing to the rise in the year-to-year growth were transportation and restaurant services, together with financial services n.e.c.

Prices of telephone services fell by 6.2 per cent from December 2011 to December 2012, thus contributing to dampening the year-to-year growth. Clothes and audiovisual equipment showed price falls of 2.0 and 3.3 per cent respectively.

Change in the year-to-year growth - higher electricity prices

The year-to-year growth in the CPI went up 0.3 percentage points from November to December mainly due to the development in electricity prices. As mentioned above, prices of electricity including grid rent showed an increase from November to December 2012, while falling 3.2 per cent in the corresponding period the previous year.

The increased year-to-year growth in the CPI was dampened by prices of food and transportation services. Prices of food fell more from November to December 2012 than in the corresponding period in 2011. Transportation service prices increased less from November to December 2012 compared to the corresponding period the year before. These factors contributed to the 1.1 per cent year-to-year growth in the CPI-ATE in December, down 0.2 percentage points from the previous month.

Annual growth - lower electricity prices in 2012

Annual growth in the CPI was 0.8 per cent from 2011 to 2012. The development of electricity prices contributed to a low annual growth. Prices of electricity including grid rent continued to fall and ended with a decrease of 19.0 per cent for 2012. Lower prices were also measured for audiovisual equipment and telephone services for 2012 than in 2011.

Among others factors contributing to pulling up the annual growth in the CPI for 2012 were operation of personal transport equipment, imputed rentals for housing, restaurant services and financial services n.e.c.

Prices of transportation services also increased in 2012.

The annual growth in the CPI-ATE ended at 1.2 per cent in 2012.

Tables

Publised tables