BRATISLAVA, August 13, (WEBNOVINY) — The growth pace of consumer prices in Slovakia moderately accelerated in July. As the Statistics Office reported on Monday, the year-on-year inflation measured by the national index reached 3.7 percent in July, up from 3.6 percent in June. Over the first seven months of 2012, prices in Slovakia rose by 3.7 percent. In a monthly comparison, consumer prices in July compared to June did not change, while in the previous month they grew 0.2 percent.
On an annual basis, prices grew most in transportation and education by an equal 6.1 percent and in healthcare by 4.9 percent. Prices of foodstuffs and soft drinks rose 4.6 percent, prices of housing, water, electricity, gas supply and other fuels swelled 4.3 percent, and prices of miscellaneous goods and services went up 3.9 percent. Prices in hotels, cafes and restaurants jumped 3.6 percent, prices of alcoholic beverages and tobacco grew 3.2 percent, clothing and footwear 1.9 percent, recreation and culture 1.8 percent, and furniture, household equipment and routine household maintenance 0.8 percent. Prices of postal and telecommunication services declined by 0.2 percent.
In monthly terms, prices grew in the sectors of healthcare, recreation and culture by an equal 0.5 percent, alcoholic beverages and tobacco 0.4 percent, miscellaneous goods and services 0.2 percent, housing, water, electricity, natural gas and other fuels, education, hotels, cafes and restaurants all by 0.1 percent. Prices of foodstuffs and soft drinks, clothing and footwear and transportation decreased by an equal 0.5 percent. Prices of furniture, household equipment and routine household maintenance and of postal and telecommunications services remained at the level from June.
The y/y core inflation, which monitors consumer prices excluding regulated prices and administrative interventions in taxation, accelerated in July from June’s 2.5 percent to 2.8 percent. Net inflation, which disregards also the food price development, accelerated year-on-year from 2.4 percent in June to 2.5 percent in July. On a monthly basis, core inflation was zero in the seventh month, while net inflation reached 0.1 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
