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NBS: Euro brought no unjustified increase in consumer prices

The impact of the introduction of the euro on Slovakia’s Harmonised Index of Consumer Prices (HICP) was only 0.2 percentage points, according to a paper approved by the bank board of the National Bank of Slovakia (NBS), Slovakia's central bank on Tuesday, March 17.

The impact of the introduction of the euro on Slovakia’s Harmonised Index of Consumer Prices (HICP) was only 0.2 percentage points, according to a paper approved by the bank board of the National Bank of Slovakia (NBS), Slovakia's central bank on Tuesday, March 17.

The 0.2 percent figure is comparable to estimates of the effect of euro-adoption in other countries, the paper said.

NBS spokesperson Jana Kováčová told the TASR newswire that the overall effect of euro-adoption on consumer prices was close to zero when items for which prices dropped due to the new currency are taken into consideration. Kováčová added that it could therefore be concluded that no unjustified consumer price hikes related to euro-adoption had been observed.

Compiled by Zuzana Vilikovská from press reports
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