Inflation accelerates – Heating oil became more expensive by 72%

Inflation has risen steadily at the beginning of the year. In April, the change in consumer prices from the previous year was 1.5 percent. This is clear from Statistics Finland’s consumer price index.

The increase in prices in Finland has been driven especially by the increased price of oil on the world market.

“The most drastic effect of the rise in world market prices has been on the price of heating oil and diesel. In April, consumer prices for heating oil rose by 72 percent compared to the previous year, and diesel by 36 percent,” says the Chief Actuary of the Statistics Finland Kristiina Nieminen in the bulletin.

According to Nieminen, the increase in the price of diesel can also be seen at the gas station, as its price has exceeded the price of gasoline for the first time.

The price of electricity, on the other hand, has decreased as spring progresses. Compared to the previous month, the price has decreased by 21 percent. The decrease is explained by the usual seasonal variation, as the need for heating decreases while the production of hydro and wind power increases.