BRATISLAVA, May 16, (WEBNOVINY) — Inflation in Slovakia as measured by the European Union methodology accelerated in April of this year to its highest level since November 2008. According to data from the Statistics Office released on Monday, it reached 3.9 percent in April from 3.8 percent in the previous month. The twelve-month average harmonized inflation, which is taken into consideration to evaluate compliance with the so-called Maastricht criteria, thus went up by 0.2 percentage points to 1.8 percent.
In a month-on-month comparison, consumer prices measured by the EU harmonized index of consumer prices (HICP) rose by 0.5 percent, while in March it was 0.4 percent. Prices of clothing and footwear, as well as transport increased the most in April from March. On the other hand, prices of furniture, household equipment, recreation and culture dropped.
At the end of last year, year-on-year harmonized inflation reached of 1.3 percent, while in the previous year, due to weakened demand prices measured by the harmonized index stagnated. This year, inflation is expected to gradually accelerate, affected by recovery of demand, as well as the impact of the government’s consolidation package. According to the latest central bank’s survey, bank analysts estimate harmonized inflation at 3.9 percent in late 2011.
SITA
