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March inflation in Slovakia was highest since late 2008

The growth of consumer prices in Slovakia accelerated in March. According to Statistics Office data, inflation measured by national methodology increased from 3.3 percent in February to 3.6 percent in March, the highest pace since December 2008.

The growth of consumer prices in Slovakia accelerated in March. According to Statistics Office data, inflation measured by national methodology increased from 3.3 percent in February to 3.6 percent in March, the highest pace since December 2008.

Food, transport, housing and energy prices grew the most. In a month-on-month comparison, prices in March were 0.4 percent higher than in February, while in February they rose 0.3 percent from January.

On average, for the first three months of the year, consumer prices rose 3.3 percent y-o-y. Core inflation, which monitors consumer prices excluding regulated prices and administrative interventions in taxation, accelerated in March, from 1.8 percent in February to 2.2 percent. Net inflation, which disregards the development of food prices, accelerated year-on-year from 0.7 percent in February to 1.1 percent in March.

On a monthly basis, core inflation was 0.5 percent and net inflation 0.1 percent in March. After historically low inflation in 2010, which reached an average of 1 percent due to low demand during the crisis, Slovakia is resuming faster price growth. Bank analysts estimate a gradual increase in inflation to 3.9 percent in December.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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