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Inflation ticks up

Year-on-year inflation in Slovakia rose for the fourth month in a row, reaching 4.6 percent in November 2011. Consumer prices went up by 4.4 percent year-on-year, the SITA newswire reported.

Year-on-year inflation in Slovakia rose for the fourth month in a row, reaching 4.6 percent in November 2011. Consumer prices went up by 4.4 percent year-on-year, the SITA newswire reported.

The latest data presented by the Statistic Office showed that inflation was at its highest since November 2008, but the Finance Ministry predicts that the average inflation rate will hit 3.9 percent at the end of this year, before dropping to 2.6 percent next year, SITA wrote.

A notable hike in prices was seen in rail transport, for which prices went up by 45.5 percent, contributing 0.36 percentage points to the overall inflation rate, the TASR newswire reported. Transport prices in general grew by 11.6 percent year-on-year, followed by those for housing, water, electricity, gas and other fuels (6.1 percent) and education (5.9 percent). Conversely, the prices of furniture, household furnishings and regular household maintenance shrank by 0.4 percent on an annual basis.

Source: SITA, TASR

Compiled by Radka Minarechová from press reports
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