Thursday, 15 November 2007

Oh Dear, Inflation is back

Inflation 2.7 per cent in October

"The year-on-year change in consumer prices, i.e. inflation, calculated by Statistics Finland was 2.7 per cent in October. In September it stood at 2.6 per cent"

"Consumer prices were again pushed up most in the year by increased cost of housing. Housing prices were pushed up primarily by risen housing loan interest rates, higher prices of owner-occupied flats and real estate, as well as rent increases."

No wonder why we are seeing so much social protest, strikes... When inflation shows its "head", tension rises.

"Risen running costs of vehicles and phone call charges, higher interest rates on consumer credits, as well as increases in food prices and restaurant and café prices also had an impact on inflation."

"By contrast, the rise in consumer prices was curbed most in October by fallen prices of entertainment electronics, computers and used passenger cars."

That's one of the reason why the government decided to reduce the car tax by 10%. That was clearly a move to impact inflation figures, nothing to do about the environment as it implied.

Again and Again it's the poor, the retired and the savers that we feel first the burden. The very rich can talk "smooth" about non sense about those strikes but at the end they don't have income issues and they will profit most...

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