Spectator on facebook

Spectator on facebook

NBS: Higher-than-expected inflation result of hike in regulated prices

EU harmonised inflation in May was slightly higher than the Slovak central bank (NBS) had expected, NBS spokesperson Jana Kováčová told the TASR newswire on June 16.

EU harmonised inflation in May was slightly higher than the Slovak central bank (NBS) had expected, NBS spokesperson Jana Kováčová told the TASR newswire on June 16.

The main reason was an increase in regulated prices, as well as slightly higher-than-expected dynamics of foodstuffs prices. The NBS expects inflation to continue to be influenced by the development both food and services prices, while it's also possible to expect a calming influence on the development of the current exchange rate.

Consumer prices measured by harmonised index increased year-on-year in May by 4 percent in comparison with 3.7 percent in April. Core inflation, or the inflation without energy and unprocessed food, reached a year-on-year dynamics of 4 percent as well. In comparison with the previous month, consumer prices grew by 0.4 percent, with month-on-month growth of core inflation being 0.1 percent. The average year-on-year inflation over the 12 months from June 2007 to May 2008 reached 2.6 percent, and since the beginning of the year on average by 3.6 percent.

"Within the basic structure of inflation the year-on-year pace of the growth of the prices of goods accelerated, while the dynamics of the prices of services stayed around the same," according to the NBS.

Within the prices of goods, those of industrial goods and foodstuffs recorded faster year-on-year growth as well. The prices of services on a year-on-year basis were steady in comparison with the preceding month. Meanwhile, the prices of services in transport, and personal and recreation services were growing slightly faster. On the other hand, a slowdown of the dynamics was recorded in the prices in telecommunications. TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

25 years on, most Czechs and Slovaks still oppose their breakup

More than two thirds of Czechs and Slovaks still believe there should have been a referendum on the division of their common state in 1992.

Vladimír Mečiar (L) and Václav Havel discuss the division of Czechoslovakia in 1992. There was no referendum to support the decision.

No new nuclear power plant planned

The state postpones the construction of a new utility in Jaslovské Bohunice, claiming there is no need for it.

Mochovce nuclear power plant

Parties only protect their market share

Rent seeking behavior and a code of loyalty are not the ways to operate a successful democratic political party.

Interior Minister Robert Kaliňák

Skyline over Jaslovské Bohunice is changing

The four cooling towers are expected to be removed until the end of 2018.

State in mid-December 2017