elinkustannusindeksin

Elinkustannusindeksi (cost-of-living index) is a price index published by Statistics Finland (Tilastokeskus) that measures changes in the cost of maintaining a given standard of living for a specific demographic group. It is used primarily to index certain social benefits and pensions in Finland, ensuring that benefits keep pace with living costs. In some contexts, it may also inform wage adjustments tied to living costs, though it is not the same as the general inflation measure.

Methodology: The index is built on a fixed basket of goods and services reflecting the consumption pattern of the target group. The weights are derived from household expenditure surveys, and price data are collected regularly from outlets and services. The index is expressed relative to a base year, with 100 representing the cost level in that year. The composition of the basket and the weights differ from those used for the broader consumer price index (CPI), which tracks general urban consumption.

Publication and use: Statistics Finland publishes elinkustannusindeksi monthly, together with methodological documentation and historical series. The index provides a long-run view of the cost of living for the defined group and complements broader inflation indicators such as the CPI. Analysts and policymakers reference the elinkustannusindeksin when discussing indexation of pensions, social benefits, or other remunerations tied to living costs.