Finland's rate of inflation dropped to 0.5 percent last month, according to data published on Friday by Statistics Finland.
This represents the lowest level since December 2020.
In its report, the number-crunching agency noted that the slowdown was driven in particular by a drop in the price of electricity, as well as by a reduction in the average interest rate on housing loans and consumer credits.
However, although the year-on-year change in prices is slowing down, the cost of living is still rising. This is because Finland's rate of cumulative inflation — that is, the total increase in the price of goods and services over a period of time — is still on the increase.
For example, Statistics Finland's figures also revealed that despite the overall drop in inflation last month, the price of coffee was up by 31 percent year-on-year, while chocolate saw a 26 percent increase compared to February 2024.
This is part of a longer term trend for these products, with the price of coffee hitting its highest ever level on international commodity markets last December.
The All Points North podcast recently looked into ways you can fight Finland's cost of living crisis. Listen to the episode via this embedded player, on Yle Areena, via Apple, Spotify or wherever you get your podcasts.
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