Spectator on facebook

Spectator on facebook

Strengthening crown dampens inflation, but not for long

Inflation in Slovakia was dampened by the significant strengthening of the Slovak crown after the official crown/euro changeover rate was set, but price developments on global markets will affect inflation estimates for the rest of this year and in the future, it was announced on September 25.

Inflation in Slovakia was dampened by the significant strengthening of the Slovak crown after the official crown/euro changeover rate was set, but price developments on global markets will affect inflation estimates for the rest of this year and in the future, it was announced on September 25.

"Thanks to the crown’s appreciation, it was partially possible to dampen the growth of inflation, but this effect won't be possible in the long-term - at least until the first half of next year," the Financial Policy Institute (IFP), an analysis department of the Finance Ministry, stated in a report.

The estimate for harmonised inflation for 2008 has grown by 0.2 percentage points to 4 percent and by 0.5 percentage points to 3.9 percent for 2009.

"The main factors (influencing inflation) include the global increase in the price of food, oil and other commodities, and also the expected regulation of prices (in Slovakia) in 2009," the IFP wrote.

But the IFP added that it's difficult to estimate regulated prices, as this issue is currently a subject of political debate rather than an economic one. 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

Kiska: Even Europe has its aggressive neighbour

President Andrej Kiska addressed UN commenting poverty, instability and climate change.

President Andrej Kiska

Ryanair cancels some flights from and to Bratislava

The Irish low-cost airline publishes full list of cancellations

Irish budget airline Ryanair is believed to be cancelling up to 50 flights every day over the next six weeks because it "messed up" its pilots' holiday schedules.

No fees bring higher summer roaming

EU regulation raises the volume of roaming calls and data with Slovak mobile operators .

People should pay attention on used data abroad.

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness