Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

Inflation accelerates to 4.1 percent

YEAR-ON-YEAR inflation in consumer prices measured by the European Harmonised Index of Consumer Prices (HICP) reached 4.1 percent in August, compared to 3.8 percent in July. The average annual inflation rate grew by 0.2 percentage points month-on-month to 2.9 percent in August, the SITA newswire reported.

YEAR-ON-YEAR inflation in consumer prices measured by the European Harmonised Index of Consumer Prices (HICP) reached 4.1 percent in August, compared to 3.8 percent in July. The average annual inflation rate grew by 0.2 percentage points month-on-month to 2.9 percent in August, the SITA newswire reported.

According to the National Bank of Slovakia (NBS), the country’s central bank, 4.1 percent is not as high as it had expected.

“In comparison with the previous month the year-on-year dynamic increased by 0.3 percentage points, mostly because of a more progressive rise in the prices of energy,” the NBS stated, as quoted by SITA.

Prices for housing and energy grew by most during the monitored period, up 7.6 percent, followed by transportation prices, up 6.1 percent. Prices for foodstuffs and soft drinks rose 5.3 percent, while the cost of education increased 4.6 percent.

On the other hand, prices for furniture, household equipment and common household maintenance were 0.5 percent lower than a year ago.

The inflation rate is expected to gradually accelerate during the remaining months of 2011 and analysts predict it will stand at 4.3 percent at year-end.

Top stories

Bratislava councillors want gambling regulation, not ban

Seventeen councillors do not agree with total prohibition of gambling in the capital, they want to continue in its strict regulation.

Unemployment rate keeps decreasing

Positive development of Slovakia’s economy seen behind the decrease.

European Investment Bank supported Slovakia with €918 million in 2016

2016 was a successful year for the EIB Group in Slovakia, said EIB Vice-President Vazil Hudák.

Vazil Hudák

Slovak film won Crystal Bear at Berlinale

The film Little Harbour that won the Generation Kplus section – beating movies from many other countries - is the work of (mostly) Slovak women.

Director of Little Harbour, Iveta Grófová, with the Cristal Bear