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Stats Office: Acceleration of inflation should peak in early autumn

Acceleration of the dynamics of inflation should continue for several more months and culminate in early autumn, František Bernadič, head of national accounts and prices of the Slovak Statistics Office, told journalists on June 3 in Bratislava.

Acceleration of the dynamics of inflation should continue for several more months and culminate in early autumn, František Bernadič, head of national accounts and prices of the Slovak Statistics Office, told journalists on June 3 in Bratislava.

"Year-on-year inflation rate should subsequently move around 4 percent," said Bernadič.

Inflation in Slovakia has been accelerating since the beginning of this year, when it gradually went from 3.8 percent in January to 4.3 percent in April. According to predictions made by the Stats Office, the growth of prices should be 4.1 percent at the end of this year, with the year-long average expected to be 4.4 percent.

"The prices of foodstuffs and raw materials in the energy sector have a decisive influence on inflation, and it's highly probable that these prices will influence in a decisive way the level of inflation also in the years ahead," explained Bernadič.

At the same time, however, a slowdown in the acceleration of inflation can be expected with high probability, unless the secondary effects of the current development surface, or unless another wave of the growth of these commodities' prices emerges. TASR

Compiled by Zuzana Vilikovská from press reports
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