Bank analyst says rise in foodstuffs prices was expected

The 5.1-percent year-on-year rise in prices of foodstuffs and alcohol-free beverages in November was to be expected, but still falls short of the record-breaking levels seen in the summer of 2008, UniCredit Bank analyst Ľubomír Kršňák said on December 13, as reported by the TASR newswire. The Slovak Statistics Office announced earlier in the day that inflation rose by 1 percent year-on-year in November. The price increase recorded in the area of foodstuffs and alcohol-free beverages was their fastest in the past two years.

The 5.1-percent year-on-year rise in prices of foodstuffs and alcohol-free beverages in November was to be expected, but still falls short of the record-breaking levels seen in the summer of 2008, UniCredit Bank analyst Ľubomír Kršňák said on December 13, as reported by the TASR newswire.

The Slovak Statistics Office announced earlier in the day that inflation rose by 1 percent year-on-year in November. The price increase recorded in the area of foodstuffs and alcohol-free beverages was their fastest in the past two years.

Kršňák told TASR that 1-percent inflation, which has been steady in the past few months, may well go up slightly in the months ahead with prices of foodstuffs expected to continue to grow as well. The inflation rate may also go up on the back of the government's deficit-busting measures, namely the VAT rate increase from 19 percent to 20 percent, he added.

Source: 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.

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