Consumer price index, 15 July 2000

In July the CPI was 105.4 (1998=100). In July 1999 it was 102.0.

Price change from June to July

The prices of clothing and footwear decreased by 5.3 per cent from June to July due to summer sales. The prices of clothing decreased the most, by 5.6 per cent. The sale included nearly all kinds of clothing. Prices of footwear fell by 3.9 per cent.

After a strong price increase of petrol from May to June, the prices of petrol decreased by about 1 per cent last month.

The tariffs on electricity kept falling and were reduced by 1.4 per cent compared with tariffs in June. The price reduction is nevertheless lower than the decrease in July last year.

Medicine expenses decreased by 0.9 per cent caused by a heavy price reduction on some prescription medications. The reduced prices are mainly due to the introduction of a new price system.

Year-to-year change

The last 12 months the CPI has increased by 3.3 per cent. The main contributor to the growth rate is found in the transport sector. The prices of petrol have increased strongly since the end of 1998, from July last year to July this year the prices have risen by 17.7 per cent. The increase is mainly due to increased prices of crude oil. There has been a strong price increase in some services within the transport sector as well. The prices of airline tickets have risen by 16 per cent, and the prices of passenger transport by road have increased by 9.2 per cent mainly due to the deregulation of the taxi market.

The prices of alcoholic beverages and tobacco have increased by 7.5 per cent the last year. This rise is mainly caused by commodity taxes. The taxes on tobacco have increased more than the taxes on alcohol, which is reflected in the price increases.

The prices of clothing have fallen for several years. The prices have declined by 7.5 per cent over the last year. The prices of audio-visual equipment have also decreased.