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February inflation slowed down to 2.7 percent

IN FEBRUARY the growth of consumer prices in Slovakia slowed down 0.3 percentage points from January to 2.7 percent year-on-year. The monthly inflation rate was 0.2 percent in February, down from one percent recorded for January, the Statistics Bureau announced on March 13.

The biggest month-on-month increases in February were in housing, water, electricity, gas and other fuels, at 0.8 percent. Other increases were in hotels, cafes and restaurants (0.4 percent), food and non-alcoholic beverages and healthcare (both 0.3 percent), and miscellaneous goods and services (0.1 percent).

Prices fell month-on-month in transport, and clothing and footwear (all 0.7 percent), furniture, household equipment and maintenance (0.2 percent), alcoholic beverages and tobacco, and recreation and culture (both 0.1 percent). Meanwhile, prices in postal and telecommunications services and in education remained unchanged on a monthly basis.

The February inflation was no surprise for markets. The year-on-year inflation of 2.7 percent was in line with analysts' expectations. Increasing costs for rentals and foodstuffs boosted inflation again during the second month of the year. At the same time, prices of motor fuel and clothing and footwear kept inflation down.

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