BRATISLAVA, September 12, (WEBNOVINY) — The growth pace of consumer prices in Slovakia in August remained unchanged at July’s 3.7 percent. As the Statistics Office of the Slovak Republic reported on Wednesday, over the first eight months of 2012, prices in Slovakia rose by 3.7 percent on average. In a monthly comparison, consumer prices in August compared to July grew 0.1 percent.
On an annual basis, prices grew most in transportation by 7 percent, in education by 6.1 percent and in healthcare by 5.9 percent. Prices of foodstuffs and soft drinks rose 4.8 percent, prices of miscellaneous goods and services 4.2 percent, prices in hotels, cafes and restaurants 3.7 percent, while prices of housing, water, electricity, gas supply and other fuels swelled 3.5 percent. Prices of alcoholic beverages and tobacco grew 2.9 percent, recreation and culture 1.9 percent, clothing and footwear 1.5 percent, postal and telecommunications services 0.8 percent and household equipment and routine household maintenance 0.4 percent.
In monthly terms, prices went up in the sectors of transport 1.2 percent, healthcare 1.1 percent, postal and telecommunications services 0.9 percent, miscellaneous goods and services 0.3 percent, hotels, cafes and restaurants 0.2 percent, and housing, water, electricity, natural gas and other fuels 0.1 percent. On the other hand, prices of clothing and footwear dropped 0.7 percent, foodstuffs and soft drinks 0.6 percent, furniture, household equipment and routine household maintenance 0.2 percent, recreation and culture 0.1 percent. Prices of alcoholic beverages and tobacco as well as education remained at the level from July.
The y/y core inflation, which monitors consumer prices excluding regulated prices and administrative interventions in taxation, accelerated in August from July’s 2.8 percent to 2.9 percent. Net inflation, which disregards also the food price development, accelerated year-on-year from 2.5 percent in July to 2.6 percent in August. On a monthly basis, core inflation was again zero in the eighth month, while net inflation reached 0.2 percent.
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. The highest growth last year was in prices of transport, energy, food and education. This year, the ministry envisages a slowdown in price growth to 3.5 percent.
SITA
