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July consumer prices up 0.3 percent month-on-month

JULY consumer prices in Slovakia rose by 0.3 percent month-on-month and 8.5 percent year-on-year, the Statistics Office reported.

Core inflation stood at 0.3 percent for the month and 2.7 percent for the year, while net inflation posted figures of 0.2 percent and 2.5 percent, the news wire TASR wrote.

Silvia Čechovičová, an analyst with ČSOB bank, said the development was in line with market expectations.

"In July, rapid price hikes related to Slovakia's accession into the EU were also not confirmed," she said.

However, she was slightly surprised by the higher prices of health sector services and a drop in transport prices.

Čechovičová expects the price level to decrease throughout the rest of the year.

The largest price rises were in the categories of health services, 3.8 percent on the month; foodstuffs, 0.6 percent; housing, water, electricity, gas, and other energies, 0.5 percent; tobacco, 0.5 percent; recreation and culture, 0.3 percent; education, 0.1 percent.

The biggest drops were in furniture, home appliances, and regular housing maintenance, 0.8 percent; alcoholic drinks, 0.4 percent; shoes, 0.3 percent; transport, 0.2 percent; non-alcoholic drinks, 0.2 percent; and clothes, 0.2 percent.

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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