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National Plan: Misperception of inflation is main risk for euro

Rising prices, or the public's feeling that they have been hurt by euro introduction, is one of the highest risks of transitioning to the new currency in Slovakia, states the National Plan for Euro Adoption in the Slovak Republic 2008-2009. Consumers in most of the 12 countries that introduced the euro in 2002 admitted a feeling of excessive price hikes, the report confirms, yet those price hikes did not become a reality.

Rising prices, or the public's feeling that they have been hurt by euro introduction, is one of the highest risks of transitioning to the new currency in Slovakia, states the National Plan for Euro Adoption in the Slovak Republic 2008-2009.

Consumers in most of the 12 countries that introduced the euro in 2002 admitted a feeling of excessive price hikes, the report confirms, yet those price hikes did not become a reality.

In those 12 countries, only 0.09- to 0.28-percent price growth could be ascribed to the euro. This was a small portion of the overall inflation of 2.5 percent. Nonetheless, consumers perceived significantly higher inflation, the report confirms. SITA

Compiled by Zuzana Vilikovská from press reports
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