Inflation rate exceeds expectations

The inflation rate of 1 percent month-on-month exceeded analysts' expectations, who had initially estimated headline inflation at 0.8 percent, news wire SITA reported.

According to analysts, the August 1 excised hikes on fuel and beer pumped Slovakia's consumer prices for that month.

Analysts expect inflation for the year to range between 8.4 and 9.7 percent.

Slavia Capital analyst Pavol Ondriška said that food prices have remained almost unchanged from previous yearly levels. According to the Statistics Office, they rose just 0.6 percent, and over the first eight months they even fell by 0.6 percent y/y.

CSOB analyst Marek Gábriš supposes that the inflation is not far from its highest point. He thinks that meat and basic grain prices might have a pro-inflation influence by the end of the year.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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