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Statistics Finland: Government s VAT hike will hit low-income earners the hardest

Statistics Finland: Government s VAT hike will hit low-income earners the hardest
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Essential spending dominates Finnish household budgets in 2022

In 2022, Finnish households allocated 59% of their average annual expenditure of €39,000 to essentials, a recent preliminary report by Statistics Finland reveals. This significant portion of spending underscores the financial pressures faced by Finnish families in managing their day-to-day needs. Families with two parents emerged as the highest spenders, averaging €62,600 per year, while childless couples followed closely, spending around €50,600.

Data collection for the Household Budget Survey underway – new information on effects of corona on consumption coming up

This year, Statistics Finland collects information on households' consumption. The Household Budget Survey  includes over 8,000 households. The Household Budget Survey provides information on changes in the consumption expenditure of households and on differences in consumption by population group.

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