Consumer price index, 15 April 2004

The year-to year change for January, February and March was negative, mainly due to the high electricity prices in the same period of 2003. CPI stood at 113.3 (1998=100) in April this year compared with 112.9 in April last year - an increase of 0.4 per cent. CPI adjusted for tax changes and excluding energy products (CPI-ATE) increased by 0.2 per cent in the same period.

Price increase for clothing and footwear from March to April

On average, the CPI rose by 0.2 per cent from March to April. Prices of clothing and footwear went up by 1.9 and 3.4 per cent respectively. Despite a price increase for clothing and footwear of 5.8 per cent in the last two months, the prices are still below the December level.

Higher prices of recreational goods and services were also registered in April. Prices of boats and boat equipment have increased since the last survey and so have ticket prices for various sports events. Food prices went up, especially prices of fresh vegetables.

Following last month's price growth, the prices of airline fares decreased by 4.7 per cent from March to April. Prices of electricity, gas and other fuels went down by 0.6 per cent, thus having a dampening effect on the growth in CPI.

Prices of alcoholic beverages contributed to moderate the growth in the consumer prices from March to April with a decline of 1.1 per cent. Beer prices fell by 2.9 per cent and are the main reason for the decrease in this group. Prices of non-alcoholic beverages fell by 1.1 per cent as well.

Year-to-year change: Food pulls consumer prices up

The consumer prices have fallen in the last three months, while in April the year-to-year change rose by 0.4 per cent. Food prices increased by 2.9 per cent, and are the main contributor to the growth in the consumer prices. Costs for owner-occupied housing and rentals for housing have risen by 1.9 per cent on a year-to-year basis. Tobacco prices also pull in the same direction, as the prices have gone up 19.6 per cent.

Increased prices of health services and insurance premiums of 8.8 and 4.3 per cent respectively were also registered.

Clothing and footwear prices have fallen by 8.5 and 3.7 per cent respectively in the last 12 months. With a fall of 18.1 per cent, prices of airline fares have also had a downward effect on the CPI. Prices of audiovisual equipment have fallen by 7.5 per cent.

The high prices of electricity in the beginning of 2003 have left a prolonged impact on the year-to-year change in the CPI. However, in April this impact was less than in previous months. The CPI excluding electricity has increased by 0.7 per cent during the last 12 months.

Strong rise in the year-to-year change

The year-to-year change in the CPI went from a decline of 0.6 per cent in March to an increase of 0.4 per cent in April. The price development of electricity tariffs explains this strong increase. In April last year the prices fell by 16.3 per cent, while the prices fell only marginally in April this year. The year-to-year change in the CPI excluding electricity remained unchanged from March to April. Prices of petrol also contributed to the growth in the year-to-year change.

CPI-AT climbed from a decrease of 1.1 per cent in March to a decline of 0.1 per cent in April. CPI-ATE decreased from 0.3 per cent in March to 0.2 per cent in April.