BRATISLAVA, March 16, (WEBNOVINY) – The year-on-year growth rate of consumer prices in Slovakia measured by the harmonized index of the European Union accelerated from 3.2 percent in January to 3.5 percent in February, according to data of the Slovak Statistics Office. It is the highest growth rate since December 2008.
Average annual inflation rate in February thus increased 0.3 percentage points from January to 1.3 percent. In a month-on-month comparison, consumer prices in the second month swelled from first month by 0.3 percent, while in January they increased by as much as 2.1 percent from December.
Year-on-year, prices of food and soft drinks rose the most, by 6.5 percent in February. Next were prices of housing, water, electricity, natural gas and other fuels, rising 6 percent, and transport prices, swelling 5.6 percent. On the other hand, prices of furniture, household equipment and routine household maintenance decreased 2 percent, and prices of footwear and clothing fell 0.4 percent.
In monthly terms, prices of foodstuffs and soft drinks grew 1.1 percent and prices in the health care sector by 0.6 percent. Furniture prices decreased 0.3 percent and prices of footwear and clothing by 0.6 percent.
Harmonized inflation represented 1.3 percent last year, while prices stagnated a year ago due to lower demand. Inflation rate is expected to accelerate this year under the influence of recovering demand and the government’s consolidation package.
SITA
