BRATISLAVA, September 13, (WEBNOVINY) – The growth of consumer prices in August moderately slowed down. According to the Slovak Statistics Office, the inflation measured by the national methodology in the eighth month represented one percent, while in July it was 1.1 percent. The average eight-month inflation thus represents 0.9 percent. On a monthly basis, consumer prices in August decreased by 0.1 percent from July. It was the first m/m drop this year.
Compared with the same period a year ago, prices of alcoholic beverages and tobacco underwent the strongest increase on an annual basis of 6.8 percent in August. The Statistics Office also reported growth in prices in the education sector of 4.3 percent, while prices of foodstuffs and non-alcoholic beverages and prices in the health sector grew by an equal 3.7 percent. Prices of miscellaneous goods and services jumped 2.1 percent. Prices in hotels, cafes and restaurants swelled by 1.1 percent and prices related to relaxation and culture by 0.7 percent. A 0.3 percent increase was reported in prices of postal and telecommunication services. On the other hand, prices of furniture, home furnishings and common home maintenance dropped 3.4 percent y/y. Prices of clothing and footwear were 1 percent lower and prices of housing, water, electric energy, gas and other fuels slumped by 0.7 percent. Prices of transportation fell by 0.6 percent.
Core inflation, which monitors consumer prices without regulated prices and administrative interventions into prices in the area of taxes, was 1.2 percent in the eight month, compared with 1.4 percent a month ago. On a monthly basis, core inflation was negative at 0.3 percent.
Net inflation, which does not take into account food prices, decreased from July’s 0.7 percent to 0.5 percent in August. In a monthly comparison, net inflation was negative 0.1 percent in August, which was positive 0.1 percent in the seventh month.
SITA
