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Inflation rises again, but doesn't threaten euro

INFLATION in Slovakia has accelerated again, but its growth should not prevent the country from adopting the European single currency, the Sme daily reported. But some analysts think that the rise will increase doubts about whether Slovakia will be able to keep inflation low following admission to the eurozone.

INFLATION in Slovakia has accelerated again, but its growth should not prevent the country from adopting the European single currency, the Sme daily reported. But some analysts think that the rise will increase doubts about whether Slovakia will be able to keep inflation low following admission to the eurozone.

In March, inflation rose by 4.2 percent year-on-year, according to the country's national methodology. However, for adoption of the euro the so-called harmonised inflation rate, a European standard of measurement, is used. Its average for the whole year was estimated to be 2.2 percent.

"This should be safely below the Maastricht criterion, which is estimated to be above 3 percent," Jaromír Šindel, analyst for the Czech Republic and Slovakia at Citibank Europe, told the SITA newswire, according to Sme.

Analysts, however, say that the continuing rise in prices might cast doubt on the sustainability of low inflation.

In March, the cost of heating went up by 1.3 percent year-on-year, boosting the growth in consumer prices. Food prices rose by 0.3 percent and property rental rates by 0.7 percent.

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