BUSINESS IN SHORT

Inflation rate highest since late 2008

THE RATE of inflation in Slovakia rose for the fourth month in a row, reaching an annual rate of 4.6 percent in November 2011, with consumer prices in the month being 4.4 percent higher than November 2010, the SITA newswire reported.

THE RATE of inflation in Slovakia rose for the fourth month in a row, reaching an annual rate of 4.6 percent in November 2011, with consumer prices in the month being 4.4 percent higher than November 2010, the SITA newswire reported.

The most recent data released by the Statistics Office indicate that Slovakia’s inflation rate is at its highest level since November 2008. Nevertheless, the Finance Ministry predicts that the inflation rate will drop to 3.9 percent at the end of this year and drop to an average of 2.6 percent next year, SITA wrote.

Prices for rail transport increased significantly, contributing 0.36 percentage points to the overall inflation rate in November, the TASR newswire reported.

Prices for all forms of transport jumped by 11.6 percent year-on-year while prices for housing, water, electricity, gas and other fuels increased by 6.1 percent and education costs rose by 5.9 percent. Prices of furniture, household furnishings and regular household maintenance dropped by 0.4 percent year-on-year.


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