Consumer price index, 15 October 2005

CPI was 116.0 (1998=100, reference year) in October 2005 compared with 114.0 at the same time last year, an increase of 1.8 per cent. The year-to-year growth in CPI-ATE was 1.2 per cent in October, a decrease of 0.1 percentage points from September.

No change in CPI from September to October

The prices of clothing and footwear increased by 1.2 per cent from September to October this year and were one of the most important factors with an upward effect on the CPI.

The group restaurant and hotel services also had a price increase from September to October 2005. The total price increase was 1.0 per cent, and it was hotel services prices that increased the most.

After pulling the CPI up in September, the energy products petrol and electricity dampened the impulses to price growth in October. Petrol prices fell by 2.0 per cent while prices of electricity fell by 0.7 per cent.

Food prices also had a downward effect on the CPI with a price fall from September to October of 0.5 per cent.

Petrol prices pulled the CPI up last 12 months

CPI increased by 1.8 per cent from October 2004 to October 2005, a 0.2 percentage points lower year-to-year growth than in September. The main contributor to the year-to-year growth came also this month from petrol prices with a 10.4 per cent increase.

Rentals increased by 2.2 per cent from October 2004 to October 2005 and were a key factor behind the CPI increase. Prices connected to maintenance and repair of dwellings with a 2.7 per cent increase, also had an upward effect on the CPI.

Despite price decrease of food from September to October 2005, the prices of food items increased by 2.3 per cent from October 2004 to October 2005.

Several services connected to recreation and culture, health and transport also showed price increases from October 2004 to October 2005.

With an 8.4 per cent price decline, audiovisual equipments contributed to dampen the increase in CPI from October 2004 to October 2005. Clothing prices also had a negative year-to-year growth and dropped by 3.3 per cent the last 12 months.

Lower year-to-year growth in October

The year-to-year growth in the CPI decreased from 2.0 per cent in September to 1.8 per cent in October. The decrease was mainly due to the price development of petrol, which decreased by 2.0 per cent from September to October this year, compared to an increase of 4.2 per cent at the same time last year. In the opposite direction electricity contributed with a more moderate fall in prices from September to October 2005 compared to the same period last year.

The year-to-year growth in the CPI-ATE fell by 0.1 percentage points from September to October and stood at 1.2 per cent in October, compared to 1.3 per cent in September 2005. The 12 months growth in CPI adjusted for tax changes (CPI-AT) fell from 1.7 per cent in September to 1.5 per cent in October.