Inflation continues to fall

The drop in the rate of the rise in consumer prices continued in April when annual inflation stood at 1.7 percent, down from 1.9 percent reported in March, and from 2.2 percent reported in February. During the first four months of the year inflation rose by about 2 percent, according to the data presented by the Statistics Office.

The drop in the rate of the rise in consumer prices continued in April when annual inflation stood at 1.7 percent, down from 1.9 percent reported in March, and from 2.2 percent reported in February. During the first four months of the year inflation rose by about 2 percent, according to the data presented by the Statistics Office.

Consumer prices in April changed little compared to the previous month. Prices of clothing and footwear rose by 1.6 percent; food and non-alcoholic beverages by 0.5 percent; various goods and services by 0.4 percent; education by 0.3 percent; and hotels, cafés and restaurants by 0.2 percent.

On the other hand, prices dropped in housing, water, electricity, gas and other fuels by 0.4 percent; transport by 0.4 percent, health care by 0.2 percent; and furniture and ordinary house maintenance by 0.1 percent.

Prices of alcoholic beverages and tobacco, postal and telecommunication services, and recreation and culture, held the same level as in March, the Statistics Office reported.

In annual terms, prices rose in the field of education by 7 percent; food and non-alcoholic beverages by 4.1 percent; various goods and services by 3.5 percent; hotels, cafés and restaurants by 2.7 percent; alcoholic drinks and tobacco by 2.5 percent; recreation and culture by 2 percent; health care by 1.6 percent; clothing and footwear as well as postal and telecommunication services by 1.2 percent; housing, water, electricity, gas and other fuels by 0.4 percent; and furniture and ordinary house maintenance by 0.2 percent. Prices dropped in transport by 1.7 percent, according to the Statistics Office.

Slovakia reported its historically lowest inflation rate in 2010 when, affected by steep weakening of demand during the crisis, it fell to 1 percent. In 2011 inflation returned to a higher rate, and average inflation reached 3.9 percent. In 2012 inflation remained at higher levels, but dropped to 3.6 percent, the SITA newswire reported.

Analysts predict that since economic activity will slow down this year, inflation will rise at a slower rate, SITA wrote.

Source: Statistics Office website, SITA

Compiled by Radka Minarechová from press reports

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