BUSINESS IN SHORT

Inflation unchanged in August

THE GROWTH rate of consumer prices in Slovakia in August remained unchanged at July’s 3.7 percent. Over the first eight months of 2012, prices in Slovakia rose by 3.7 percent on average. In a monthly comparison, consumer prices in August grew 0.1 percent, the data of the Slovak Statistics Office show, as reported by the SITA newswire.

THE GROWTH rate of consumer prices in Slovakia in August remained unchanged at July’s 3.7 percent. Over the first eight months of 2012, prices in Slovakia rose by 3.7 percent on average. In a monthly comparison, consumer prices in August grew 0.1 percent, the data of the Slovak Statistics Office show, as reported by the SITA newswire.

On an annual basis, prices grew most in transportation by 7 percent, in education by 6.1 percent and in health care by 5.9 percent. Prices of foodstuffs and soft drinks rose 4.8 percent, prices of miscellaneous goods and services by 4.2 percent, prices in hotels, cafés and restaurants by 3.7 percent, while prices of housing, water, electricity, gas supply and other fuels grew by 3.5 percent.

Prices of alcoholic beverages and tobacco grew 2.9 percent, recreation and culture 1.9 percent, clothing and footwear 1.5 percent, postal and telecommunications services 0.8 percent and household equipment and routine household maintenance 0.4 percent.

In monthly terms, prices went up in the sectors of transport 1.2 percent, healthcare 1.1 percent, postal and telecommunications services 0.9 percent, miscellaneous goods and services 0.3 percent, hotels, cafes and restaurants 0.2 percent, and housing, water, electricity, natural gas and other fuels 0.1 percent. On the other hand, prices of clothing and footwear dropped 0.7 percent, foodstuffs and soft drinks 0.6 percent, furniture, household equipment and routine household maintenance 0.2 percent, recreation and culture 0.1 percent. Prices of alcoholic beverages and tobacco as well as education remained at the level from July.

The year-on-year core inflation, which monitors consumer prices excluding regulated prices and administrative interventions in taxation, grew in August from July’s 2.8 percent to 2.9 percent. Net inflation, which does not factor food prices, grew year-on-year from 2.5 percent in July to 2.6 percent in August. On a monthly basis, core inflation was again zero in the eighth month, while net inflation reached 0.2 percent, SITA wrote.

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