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Slovakia's inflation rate falls to 2.2 percent in May

Headline inflation in Slovakia continues to decelerate as year-on-year growth of consumer prices slowed from 2.3 percent in April to 2.2 percent in May, the SITA newswire reported.

Headline inflation in Slovakia continues to decelerate as year-on-year growth of consumer prices slowed from 2.3 percent in April to 2.2 percent in May, the SITA newswire reported.

The average y-o-y inflation rate for the first five months of 2009 was 2.7 percent. Prices increased by 0.2 percent in May on a monthly basis while they had declined 0.1 percent month-on-month in April, the Statistics Office reported on June 11.

Food prices in Slovakia continued declining, too. In May, they were 2.4 percent lower than in the same month of the previous year. In April food prices had fallen 2.1 percent y-o-y. On average for the first five months of this year, food prices were 0.4 percent lower than in the same period a year ago, SITA wrote.

The fall in food prices contributed considerably to the deceleration of core inflation which measures growth of consumer prices with the exclusion of regulated prices and administrative interventions in the area of taxes. Core inflation was 1.1 percent in May, which was 0.1 percentage points less than April. Average core inflation was 1.7 percent in the first five months. SITA

Compiled by Zuzana Vilikovská from press reports
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