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Inflation in Slovakia slowed to 2.2 percent in February

Growth of consumer prices in Slovakia slowed moderately in February. Annual inflation according to national methodology slipped to 2.2 percent, and prices in January grew by 2.4 percent, the SITA newswire wrote, quoting a Statistics Office’s (ŠÚ) report on Wednesday, March 13.

Growth of consumer prices in Slovakia slowed moderately in February. Annual inflation according to national methodology slipped to 2.2 percent, and prices in January grew by 2.4 percent, the SITA newswire wrote, quoting a Statistics Office’s (ŠÚ) report on Wednesday, March 13.

Over the first two months of this year, prices in Slovakia rose by
2.3 percent. In a monthly comparison, prices remained unchanged in February compared to January. In January compared to December, they increased by 0.6 percent. In an annual comparison, prices increased in education by 6.6 percent; food and non-alcoholic beverages by 5.6 percent; health care by 4.6 percent; miscellaneous goods and services by 3.6 percent; alcoholic beverages and tobacco by 3.4 percent; hotels, cafes and restaurants by 2.7 percent; recreation and culture by 2.3 percent; clothing and footwear by 1.4 percent; postal and telecommunication services by 1.2 percent; furnishings, household equipment and routine household maintenance by 0.4 percent; and housing, water, electricity, gas and other fuels by 0.1 percent. Only transport prices stagnated at last year's level.

Year-on-year core inflation, which monitors consumer prices excluding regulated prices and administrative interventions in taxation, slowed to 2.5 percent in February from 2.8 percent in January. Net inflation, which, unlike core inflation disregards food prices, also decreased from 2 percent to 1.8 percent. Month-on-month core inflation was zero and net inflation was minus 0.1 percent. Slovakia achieved its historically lowest inflation in 2010, when due to a sharp weakening of demand in times of crisis, it reached an average of 1 percent. In 2011, growth of inflation resumed. According to national methodology, average inflation in 2011 was 3.9 percent. In 2012, growth of prices remained at similar levels, when average inflation was 3.6 percent.

(Source: SITA)
Compiled by Zuzana Vilikovská from press reports
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