Inflation remained at 1.6 per cent in Finland

The year-on-year change in consumer prices was 1.6 per cent in January, according to Statistics Finland.

Inflation was the same as in December. Statistics Finland has revised the commodity basket and the weight structure for consumer price indices from the beginning of January.

In January, consumer prices were pushed up most by increases in the prices of food and housing from the previous year.

Food prices went up above all due to higher prices of dairy products and vegetables, says Statistics Finland. Rent increases were, in turn, the main reason for increased housing costs.

The rising of consumer prices was curbed from the year before most in January by reductions in the prices of entertainment electronics and clothing, as well as decreases in housing loan interest rates. From December to January, consumer prices fell by 0.1 per cent.

The rate of inflation in the whole euro area was 0.7 per cent in January. In December, it stood at 0.8 per cent.