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Inflation accelerated to 5 percent in August

Inflation measured by national methodology (CPI) accelerated from 4.8 percent year-on-year in July to 5 percent in August, the Statistics Office announced on September 10. Core inflation stood at 5.3 percent in August, accelerating from 5.1 percent in July, while net inflation was at 4.2 percent, a 0.4-percentage-point increase on the previous month. Over the first eight months of 2008, meanwhile, inflation averaged 4.4 percent year-on-year. Core inflation stood at 4.7 percent, while net inflation reached 3.5 percent. The prices of food and alcoholic beverages grew by 9.5 percent year-on-year in August. Other significant year-on-year increases were: in healthcare, 8.3 percent; and housing, water, electricity, gas and other fuels, 6.8 percent. The prices of postal services and telecommunications, on the other hand, fell by 0.4 percent. On a monthly basis, consumer prices increased by an average of 0.2 percent in August. The largest month-on-month increase in August was in the prices of housing, water, electricity, gas and other fuels, 1.3 percent. Other month-on-month increases were: health care and in hotels, cafes and restaurants, both 0.4 percent; miscellaneous goods and services, 0.3 percent; and in alcoholic beverages and tobacco, 0.1 percent. Conversely, the prices of food and non-alcoholic beverages fell by 0.9 percent month-on-month. Other month-on-month reductions were in transport, 0.5 percent; in clothing and footwear, 0.4 percent; in recreation and culture, 0.2 percent; and in postal services and telecommunications, 0.1 percent. Prices of furniture, household equipment and maintenance, and of education remained the same as in July. TASR

Inflation measured by national methodology (CPI) accelerated from 4.8 percent year-on-year in July to 5 percent in August, the Statistics Office announced on September 10. Core inflation stood at 5.3 percent in August, accelerating from 5.1 percent in July, while net inflation was at 4.2 percent, a 0.4-percentage-point increase on the previous month. Over the first eight months of 2008, meanwhile, inflation averaged 4.4 percent year-on-year. Core inflation stood at 4.7 percent, while net inflation reached 3.5 percent.

The prices of food and alcoholic beverages grew by 9.5 percent year-on-year in August. Other significant year-on-year increases were: in healthcare, 8.3 percent; and housing, water, electricity, gas and other fuels, 6.8 percent. The prices of postal services and telecommunications, on the other hand, fell by 0.4 percent. On a monthly basis, consumer prices increased by an average of 0.2 percent in August.

The largest month-on-month increase in August was in the prices of housing, water, electricity, gas and other fuels, 1.3 percent. Other month-on-month increases were: health care and in hotels, cafes and restaurants, both 0.4 percent; miscellaneous goods and services, 0.3 percent; and in alcoholic beverages and tobacco, 0.1 percent. Conversely, the prices of food and non-alcoholic beverages fell by 0.9 percent month-on-month. Other month-on-month reductions were in transport, 0.5 percent; in clothing and footwear, 0.4 percent; in recreation and culture, 0.2 percent; and in postal services and telecommunications, 0.1 percent. Prices of furniture, household equipment and maintenance, and of education remained the same as in July. 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.

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