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Inflation slows down in November

THE GROWTH of consumer prices in Slovakia has slowed down moderately.

THE GROWTH of consumer prices in Slovakia has slowed down moderately.

Figures that the Slovak Statistics Office published on December 11 show that prices grew 3.1 percent in November compared to the same period last year. In October inflation was 3.3 percent year-on-year, the Hospodárske Noviny economic daily wrote.

Food prices rose the most in November, up 7.1 percent year-on-year. Bank fees also contributed to the increase.

“After the Czech Republic announced record inflation on December 10, driven especially by the fast growth of food prices, we expected that the inflation growth would also show a surprising increase in Slovakia,” VÚB analyst Martin Lenko told the daily. “This did not come true, probably because food prices in Slovakia already grew faster than in the Czech Republic in September and October.”

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