BRATISLAVA, November 16, (WEBNOVINY) – Growth of consumer prices in Slovakia measured by EU methodology accelerated to 4.6 percent in October, which is the highest pace since August 2006. In September, harmonized inflation reached 4.4 percent. October inflation moderately exceeded bank analysts’ expectations of 4.5 percent, according to a survey of the National Bank of Slovakia.
The average twelve-month inflation rate grew 0.3 percentage points from September to 3.5 percent last month. In monthly terms, prices in October rose by 0.2 percent from September, while in September the month-on-month growth represented 0.3 percent.
Prices of housing and energies swelled the most in the monitored period, namely by 8.3 percent, followed by transportation prices, up 7.1 percent. Prices of education rose by 6 percent, prices of foodstuffs and soft drinks grew 5.8 percent, while prices in the health care sector swelled 4.8 percent.
In a monthly comparison, the Statistics Office found that costs of clothing and footwear went up the most, namely 1.4 percent. Prices in the health care sector rose 0.8 percent, and prices of education and miscellaneous goods rose by an equal 0.4 percent. Prices of foodstuffs, soft drinks, transportation, hotels, cafes and restaurants were 0.2 percent higher than a month ago. On the contrary, prices of recreation and culture went down 0.1 percent and prices of alcoholic beverages and tobacco dropped 0.2 percent.
At the end of last year, year-on-year harmonized inflation reached 1.3 percent, while in the previous year, growth of consumer prices measured by the harmonized index stagnated due to weak demand. This year, inflation is expected to gradually accelerate. Bank analysts predict it at 4.3 percent at the end of 2011. The central bank expects the figure at 4.2 percent.
SITA
