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Finance Ministry says inflation in Slovakia is relatively low

The Finance Ministry says that Slovakia has relatively low inflation compared to other countries.

The Finance Ministry says that Slovakia has relatively low inflation compared to other countries.

"Inflation in Slovakia in July 2008 developed in line with expectations and the Finance Ministry finds price development in the context of global conditions to be relatively favourable," states the ministry in its report on measures to prevent groundless price growth in the period before and after introduction of the euro. The report was approved by the Cabinet at its regular meeting on September 24. A detailed examination of individual sectors of the basket of consumer purchases also shows that prices are growing (with minor exceptions) at a moderate pace.

Despite favourable development of inflation in general, the ministry identified two sectors which require greater attention: dental services, and newspapers and periodicals. According to the ministry, fees for dental services grew consistently month by month in the first half of this year, though prices did not increase in July. Referring to a reported price hike for periodicals, the ministry stated this was probably one-off price change after a long period, or that the prices have changed as a consequence of rounding in connection with the prepared euro changeover. SITA

Compiled by Zuzana Vilikovská from press reports
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