BRATISLAVA, June 13, (WEBNOVINY) — The growth pace of consumer prices in Slovakia continues to diminish. Inflation in May reached 3.4 percent year-on-year, while in the previous month it was 3.6 percent. Over the first five months of 2012, consumer prices in Slovakia rose by 3.7 percent year-on-year. The month-on-month growth of prices in May slowed to 0.1 percent. In April compared to March, prices increased by 0.3 percent, the Statistics Office reported on Wednesday.
In year-on-year terms, prices rose fastest in transport by 7.1 percent, in health care and education by 5.7 percent, in housing, water and energy supply by 4.4 percent. Prices were also higher for miscellaneous goods and services by 3.6 percent, hotels, cafes and restaurants by 3.2 percent, alcoholic beverages and tobacco by 3.1 percent, food and soft drinks by 2.3 percent, clothing and footwear by 1.9 percent, recreation and culture by 1.5 percent and furniture, household equipment and routine household maintenance by 0.9 percent. Prices of postal services and telecommunications fell by 0.2 percent.
On a monthly basis in May compared with April, prices rose most for clothing and footwear by 1.2 percent. Prices of food and soft drinks grew by 0.4 percent, alcoholic beverages and tobacco by 0.3 percent, health care, hotels, cafes and restaurants by 0.1 percent. Prices fell from the previous month of transport by 0.5 percent. Prices remained at last month’s level in housing, supply of water, electricity, natural gas and other fuels, furnishings, household equipment and routine maintenance, postal services and telecommunications, recreation and culture, education and miscellaneous goods and services.
Slovakia achieved its historically lowest inflation in 2010, when due to a sharp weakening of demand in times of crisis, it reached an average of 1 percent. Last year, growth of inflation resumed. According to national methodology, average inflation in 2011 was 3.9 percent, which was in line with expectations of the Ministry of Finance. This year, the ministry envisages a slowdown in price growth to 2.8 percent.
SITA
