Prices higher than expected

The 0.5 percent growth in consumer prices in September exceeded analysts' expectations. Higher prices for food, soft drinks, and telecommunications and postal services pushed up the price level during the month monitored.

Negligible demand-driven pressure in September was confirmed by the development of core and net inflation, news wire SITA reported.

Monthly core inflation, which determines the rate of consumer price growth excluding the influence of regulated prices and other administrative measures, was at 0.4 percent while its year-on-year figure was 2.8 percent.

Even though the price level growth was higher than expected, according to analysts inflation development provides no reason for concern. Analysts eye further cuts in key interest rates by the central bank to support the sluggish domestic demand.

The central bank expects that a continuing increase in food prices will also affect the price level in October.

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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