Inflation Finland 2023
Average inflation: 6.3%
Current Inflation
Inflation is very high at 6.3%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 8.8%. The lowest inflation was in November at 3.3%.
- Highest month
- February: 8.8%
- Lowest month
- November: 3.3%
- Difference
- 5.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Miscellaneous goods and services with an average of 11.7%. The lowest price increase was in Health with an average of -1.5%.
- Highest increase
- Miscellaneous goods and services: 11.7%
- Lowest increase
- Health: -1.5%
Historical Context
Current inflation is 2.9% higher than the 5-year average of 3.4%.
- 5-year average
- 3.4%
- 10-year average
- 2%
- All-time high (2022)
- 7.1%
- All-time low (2015)
- -0.2%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -0.8 percentage point.
- Change vs. previous year
- -0.8 percentage points
- Largest monthly swing
- November: -5.8 percentage points
ECB Target
Inflation is 4.3% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €106.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 8.4% | +4.0 |
| February | 8.8% | +4.3 |
| March | 7.9% | +2.1 |
| April | 7.9% | +2.2 |
| May | 6.8% | -0.2 |
| June | 6.3% | -1.5 |
| July | 6.5% | -1.3 |
| August | 5.6% | -2.0 |
| September | 5.5% | -2.6 |
| October | 4.9% | -3.4 |
| November | 3.3% | -5.8 |
| December | 3.6% | -5.5 |
| Average | 6.3% |
Data source
Data from OECD. Last updated: 13/01/2026.