ECONOMIC BRIEFS

Slovak monthly inflation in August only 0.5%

The August monthly inflation rate, as measured by the consumer price index, hit 0.5%, bringing annualised Slovak inflation in August to 14.4%, the Statistics Bureau revealed on September 10.

August saw prices increase from July mainly in health care (2.1%), transport (1.3%) and furniture (1%).

The August rise in the year-on-year inflation rate is attributed to increased prices for housing, electricity, water, gas, and other fuels (43.1%), transport (18%), health care (14.9%), various goods and services (12.5%), recreation and culture (11%) and education (9.5%).

In June the central bank revised its monetary programme for 1999. The central bank projects a year-end inflation rate of 13.5 to 15.5%, while the average inflation rate should be 10 to 11% in 1999. The net inflation target is set at 6-7.5%. Net inflation applies to 55 percent of commodities and services in the consumer basket.

Slovakia saw an average annual inflation rate of 6.7% last year.

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