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Central Bank expected slightly higher growth of consumer prices

The National Bank of Slovakia expected moderately higher growth of consumerprices in August than was reported by official statistics.

The National Bank of Slovakia expected moderately higher growth of consumer
prices in August than was reported by official statistics.

"The average year-on-year inflation for the twelve months from September 2007 to August 2008 was 3.3 percent. Inflation reached 3.9 percent on average," the NBS statement reads. The central bank expects the year-on-year dynamics of headline inflation to accelerate moderately in September in comparison with August, due to the influence of projected acceleration of the excise tax on cigarettes.

The year-on-year growth rate of consumer prices in Slovakia in August measured by the EU-harmonised index of consumer prices (HICP) remained at July levels of 4.4 percent. Prices dropped 0.1 percent in monthly terms, according to the Statistics Office.

In a year-on-year comparison, prices in the health sector grew most in August, up 0.7 percent. Prices of miscellaneous goods and services increased 0.6 percent and prices in hotels, cafes and restaurants 0.5 percent. On the other hand, prices of food and non-alcoholic beverages dropped most, 1.1 percent. The price of clothing and footwear declined 0.4 percent. The price of relaxation services and culture as well as prices in the sectors of posts and telecommunications shrank by 0.2 percent. Prices in the education sector and prices of alcoholic drinks and tobacco remained unchanged. SITA

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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