Finland: energy inflation rate by commodity 2024

Energy commodity price inflation in Finland has increased significantly since the beginning of 2021. Liquid fuel prices saw the steepest increase in that time, with the inflation rate peaking at 113.6 percent in March 2022, following Russia's invasion of Ukraine and overall market uncertainty. In May 2024, the value stood at 6.9 percent.

Harmonized index of consumer prices (HICP) energy inflation rate in Finland from January 2019 to May 2024, by commodity

Characteristic	Energy	Liquid fuels	Electricity
May '24	-8%	6.9%	-19%
Apr '24	-8.1%	5.1%	-18.4%
Mar '24	-9.1%	-0.3%	-21.2%
Feb '24	-9.4%	2.5%	-18%
Jan '24	-13.3%	-11.7%	-24%
Dec '23	-11.4%	-1.8%	-26.6%
Nov '23	-16.7%	-17.5%	-31.5%
Oct '23	-9.5%	-19.8%	-19.7%
Sep '23	-4.9%	-7.9%	-11.7%
Aug '23	-7.7%	-6.3%	-14.9%
Jul '23	-4.5%	-23.9%	9%
Jun '23	-6.8%	-31.4%	15.2%
May '23	0%	-26.2%	21.6%
Apr '23	5.2%	-11.4%	24.8%
Mar '23	3.5%	-29.4%	28.3%
Feb '23	16.9%	13.4%	36.3%
Jan '23	21.3%	31.1%	45.6%
Dec'22	28.3%	29.8%	64%
Nov'22	34%	56.6%	65.9%
Oct'22	27.4%	69.2%	41%
Sep'22	31.9%	67.6%	47.9%
Aug '22	29.9%	60.9%	43.4%
Jul '22	34.8%	75.9%	40.1%
Jun '22	40.7%	97.2%	32.1%
May '22	32.4%	79.1%	30.7%
Apr '22	29.7%	70%	30.5%
Mar '22	34%	113.6%	30.5%
Feb '22	24%	40.1%	29.9%
Jan '22	24.1%	37.6%	29.3%
Dec '21	16.1%	43.5%	9.7%
Nov '21	20.3%	58.6%	10.1%
Oct '21	15.6%	57.6%	9.2%
Sep '21	10%	44.4%	2.7%
Aug '21	9.7%	32.2%	3.4%
Jul '21	9.8%	31.2%	0.4%
Jun '21	10.1%	34.1%	-0.3%
May '21	13.9%	46.8%	-0.2%
Apr '21	10.4%	32.7%	-0.8%
Mar '21	5.9%	25.1%	-1%
Feb '21	0.3%	0.9%	-1.1%
Jan '21	-3.8%	-12.8%	-0.6%
Dec '20	-5.9%	-22%	-2.4%
Nov '20	-7.1%	-26.1%	-1.7%
Oct '20	-5.3%	-26.8%	-0.6%
Sep '20	-5.2%	-28%	-0.7%
Aug '20	-4.1%	-19.5%	-0.3%
Jul '20	-6.3%	-21.3%	0.8%
Jun '20	-8.4%	-22.2%	0.8%
May '20	-11.8%	-35.8%	1%
Apr '20	-8.9%	-30.5%	1.4%
Mar '20	-3.1%	-22.6%	1.2%
Feb '20	2.6%	-6.6%	2.2%
Jan '20	4.9%	5.7%	2.7%
Dec '19	3.9%	5.7%	5.7%
Nov '19	-1%	-4.5%	3.2%
Oct '19	-0.7%	-7.4%	3.5%
Sep '19	1%	-4.1%	6.7%
Aug '19	1%	-7.6%	6.3%
Jul '19	2.9%	-2.1%	6.9%
Jun '19	3.5%	-6.6%	10%
May '19	5.9%	1.7%	10%
Apr '19	7.2%	4.9%	9.6%
Mar '19	6.8%	10%	9.6%
Feb '19	4%	7.2%	8.8%
Jan '19	2.7%	-4.2%	8.1%

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Release date

June 2024

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Region

Finland

Survey time period

January 2019 to May 2024

Supplementary notes

According to the source, the Harmonized Indices of Consumer Prices (HICP) measure changes in the prices of consumer goods and services over time. These indices provide comparable measures of inflation.

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