BRATISLAVA, October 14, (WEBNOVINY) — Growth of prices in Slovakia measured by EU methodology accelerated to 4.4 percent in September. According to data of the Statistics Office of the Slovak Republic, harmonized inflation in September accelerated by 0.3 percentage points from August. The average twelve-month inflation rate grew 0.3 percentage points from August to 3.2 percent last month. In monthly terms, prices in September rose 0.3 percent from August, while in August the month-on-month growth represented 0.1 percent. September inflation was thus in line with analysts‘ expectations of 4.4 percent.
The growth of consumer prices measured by the harmonized index HICP is highest since late 2008, similarly as inflation measured by the national methodology, reaching 4.3 percent in September. Statisticians reported higher inflation in September 2008, when it reached 4.5 percent. At that time, it was the highest price growth since September 2006.
Prices of housing and energies swelled the most in the monitored period, namely by 8.1 percent, followed by transportation prices, up 6.8 percent. Prices of education rose 5.7 percent, prices of foodstuffs and soft drinks grew 5.2 percent, while prices of alcohol and tobacco went up 4.2 percent. Prices in the health care sector swelled 4.1 percent, prices of miscellaneous goods and services 3.9 percent, hotels, cafes and restaurants 3.4 percent and clothing and footwear 2.1 percent. Prices of recreation and culture went up 0.4 percent, and prices of postal and telecommunications services ticked up 0.1 percent. The only segment where prices declined in annualized terms was furniture, household equipment and common house maintenance, which saw a 0.2-percent drop.
In a monthly comparison, the Statistics Office found that costs of education went up the most, namely 3.5 percent. Prices in hotels, cafes and restaurants were 1.4 percent higher than a month ago, while prices of housing, water, electricity, gas and other fuels, as well as miscellaneous goods and services all rose 0.5 percent. Prices of furniture and common house maintenance increased by 0.4 percent, prices of alcoholic beverages and tobacco 0.2 percent, clothing and footwear 0.1 percent, and health care 0.1 percent. On the contrary, prices of recreation and culture went down 0.2 percent, foodstuffs and soft drinks 0.1 percent, and transportation prices declined 0.1 percent, too. Prices in the sectors of posts and telecommunications did not change from the previous month.
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
