Consumer price index, 15 April 2009

The consumer price index (CPI) was 125.4 (1998=100) as per April 2009 compared with 121.9 in the corresponding month the previous year. This is equivalent to a year-to-year growth of 2.9 per cent in April, up from 2.5 per cent in March. The year-to-year growth in the CPI-ATE was 2.7 per cent in April 2009, the same as in March 2009.

Growth in prices of fuels from March to April

The CPI increased by 0.2 per cent from March to April 2009. Prices of fuels and lubricants contributed most, with an increase by 4.0 per cent. The prices within recreation and culture also saw an increase. Prices of books were the most important factor with an increase by 19.5 per cent in April, after sales activity in March. The prices of clothing and footwear also rose and contributed in pulling the CPI up. Despite price increases the last three months, the prices of footwear and clothing has not yet reached the same level as in November 2008.

Prices of electricity including grid rent fell by 3.2 per cent and where the most important factor to dampen the growth in the CPI. Flight fares and prices of accommodation services saw a decrease by 3.0 and 3.6 per cent respectively. Also prices on food fell slightly.

CPI up 2.9 per cent last twelve months

The prices of housing, water and electricity were the most important causes behind the rise in the CPI. For electricity prices including grid rent and for imputed rentals, there were price increases of 13.7 and 3.5 per cent respectively. Prices of furniture also increased, and the prices of food and non- alcoholic beverages rose by 4.4 per cent. Services connected to transport, restaurants as well as recreation and culture also contributed to the price growth in the CPI over the last twelve months.

Prices of clothing fell by 4.9 percent and were the most important cause in dampening the growth in the CPI from April 2008 to April 2009. For fuels and lubricants the prices fell by 7.2 per cent. Audiovisual equipment and telephone services also had decreasing prices.

Increase in the year-to-year growth in the CPI from March to April

The year-to-year growth in the CPI increased from 2.5 per cent in March to 2.9 per cent in April. Flight fares, prices of fuels and lubricants and electricity contributed the most to the rise in the CPI. Flight fares and prices of electricity fell by 22.9 and 6.7 per cent respectively from March to April last year, while they fell by approximately 3 per cent the same period this year. For fuels and lubricants the prices fell slightly from March to April last year, while they increased in the same period this year.