Consumer prices affected by Easter

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The CPI rose 0.2 per cent from March to April, mainly due to increased airfares in connection to Easter. The year-to-year growth in the CPI was 2.2 per cent in April, while the CPI-ATE rose 1.7 per cent in the same period.

Figure 1. 12-month rate. CPI, CPI-ATE, CPI by divisions. April 2016 – April 2017

12-month rate April 2016 - April 2017
Miscellaneous goods and services 2.6
Restaurants and hotels 4
Education 5.3
Recreation and culture 3.1
Communications 0.9
Transport 3.6
Health 2.9
Furnishings, household equipment and routine maintenance -0.5
Housing, water, electricity, gas and other fuels 3.8
Clothing and footwear 2.8
Alcoholic beverages and tobacco 2
Food and non-alcoholic beverages -2.1
CPI -ATE All-item index 1.7
CPI All-item index 2.2

Figure 2. Monthly change in per cent. CPI, CPI-ATE, CPI by divisons.

March 2017 – April 2017 March 2016 – April 2016
Miscellaneous goods and services 0.5 0.1
Restaurants and hotels 0.5 0.1
Education 0 0
Recreation and culture 1.4 0.8
Communications -1 0
Transport 1.1 -1.9
Health -0.4 0.1
Furnishings, household equipment and routine maintenance -0.2 0.4
Housing, water, electricity, gas and other fuels 0 0.2
Clothing and footwear 1.8 1.2
Alcoholic beverages and tobacco -0.2 0.1
Food and non-alcoholic beverages -2.1 3
CPI -ATE All-item index 0.3 0.3
CPI All-item index 0.2 0.4

Prices for travelling and food pulled in opposite directions

The Consumer Price Index (CPI) rose 0.2 per cent from March to April. Increased airfare and prices on package holidays were the most important contributors. Food prices pulled in the opposite direction. These price changes can be seen in conjunction with Easter holiday.

Weak decline in the year-to-year growth from March to April

The CPI rose 2.2 per cent last twelve months, down 0.2 percentage points from March. The decline in the year-to-year growth is caused by Easter occurring in April this year compared to in March last year. Food prices increased from March to April last year while they decreased in the same period this year. Prices on fuels fell more from March to April this year than in the corresponding period in 2016 also contributing to the decline in the-year-to-year growth.

The year-to-year growth in the CPI-ATE was 1.7 per cent in April, unchanged from March. The deviation between the CPI and the CPI-ATE is mainly caused by the development in electricity prices