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Increased pace of inflation in June in Slovakia

Inflation, measured according to national methodology, increased in pace for the first time in 2009 in the month of June, rising from 2.2 percent year-on-year in May to 2.4 percent in June, the TASR newswire reported, citing data from Slovakia’s Statistics Office released on July 10. Consumer prices in Slovakia rose by an average of 2.7 percent in the first six months of 2009.

Inflation, measured according to national methodology, increased in pace for the first time in 2009 in the month of June, rising from 2.2 percent year-on-year in May to 2.4 percent in June, the TASR newswire reported, citing data from Slovakia’s Statistics Office released on July 10. Consumer prices in Slovakia rose by an average of 2.7 percent in the first six months of 2009.

On a monthly basis, consumer prices went up by an average of 0.5 percent in June. The most significant month-on-month price increases were in transport and education, both by 1.5 percent; in housing, water, electricity, gas and other fuels by 1.3 percent; in alcoholic beverages and tobacco and in healthcare, both by 0.2 percent; and in clothing and footwear and in recreation and culture, both at 0.1 percent. The only sphere to record a month-on-month decline in prices in June was furniture, household equipment and maintenance, down by 0.2 percent.

“Inflation in June has surprised us with a higher figure than we and the market expected,” Silvia Čechovičová, a ČSOB bank analyst, told TASR, adding that it isn’t possible to make conclusions concerning possible changes in trends from only one monthly figure. “It still holds that price increases should continue to be restrained by weak demand pressure and by lower imported inflation; therefore we don't expect any acceleration of month-on-month inflation.” TASR

Compiled by Jana Liptáková from press reports
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