Finland's inflation remains at 7.8% in July

By Tuba Sahin

ANKARA (AA) - Finland's annual consumer inflation rate remained at 7.8% in July, a 38-year high, according to the country's statistical authority on Monday. Inflation stood at 7.8% in June as well.

Prices of food and non-alcoholic beverages jumped 12.4% year-on-year in July, for alcoholic beverages and tobacco by 3.4%, housing and utilities 9.2%, health 1.5%, transport 14.6%, and recreation and culture by 4%.

On a monthly basis, Finnish consumer prices index rose at the slowest pace in the last three months, up 0.3% in July, after a 0.7% hike in June.

The month-on-month change "was caused by higher prices of electricity, average interest rate on housing loans and mature cheese products," Statistics Finland said.