November saw annual inflation in Finland accelerate, according to official data put out Wednesday. It was the highest rate of price growth since a 9.2% reading was calculated in 1983, according to the nation’s statistics agency in its report.

Consumer prices were up 1.2% over the prior month, with the majority of the increases coming from increased power costs and a rise in the monthly mortgage rate. Electricity soared 18% month over month, and was up 66% from a year prior. At the same time, the average mortgage rate was up by an astonishing 96%, in essence doubling from a year prior.

Increase in diesel prices, as well as higher interest rates on consumer loans also added to the inflation. Non-alcoholic beverages and food were up by about 16% in costs compared to one year prior.

Jukka Appelqvist, chief economist of Finland’s Central Chamber of Commerce called the figures worrying.

On Twitter she wrote, “Drastic readings. In Finland, inflation did not decline in November, as it did on average in the euro area, but accelerated to 9.1% percent. There was a rapid increase in prices of 1.2%, which was driven by the rising costs of electricity and interest rates. Neither factor is slowing down quickly.”

Statistics Finland had written earlier in the month, that the nation’s GDP had shrunk by 0.3% for the third quarter, which brought five consecutive quarters of positive growth to an end. Experts say the contraction will likely continue into the fourth quarter, producing what is called a technical recession for the Finnish economy. Analysts expect that economic downturn will persist well into the new year.