BUSINESS IN SHORT

Harmonised inflation down to 1.1%

CONSUMER prices grew slower in the Slovak economy than the EU average in both year-on-year and month-on-month comparisons.

CONSUMER prices grew slower in the Slovak economy than the EU average in both year-on-year and month-on-month comparisons.

Inflation as measured by the Harmonised Index of Consumer Prices (HICP) in September was only 1.1 percent in Slovakia, while in August it reached 1.4 percent year-on-year, the SITA newswire reported.
In the eurozone, year-on-year inflation in September slowed to 1.1 percent, while in August it was at 1.3 percent.

Numbers for the entire EU show inflation at 1.3 percent in September and at 1.5 in August.

The average 12-month inflation decreased by two percentage points to 2.2 percent compared to August.
In monthly terms, prices according to harmonised methodology stagnated, while in August they fell by 0.2 percent compared to July, SITA wrote, based on the data released by the Slovak Statistics Office on October 16.

In September prices grew the fastest in the year-on-year comparison in education by 5.9 percent, followed by prices of alcoholic beverages and tobacco, which rose by 3.7 percent, and prices of food and non-alcoholic beverages, by 3.2 percent.

Compared to last September, prices in hotels, cafés and restaurants grew by 1.8 percent, recreation and culture by 1.4 percent, health care by 0.9 percent, clothing and footwear by 0.7 percent and housing, water, electricity, gas and other fuels by 0.3 percent.

On the other hand, prices fell the most in transport, by 1.5 percent, post and telecommunications by 1 percent, furniture, household equipment and routine household maintenance by 0.2 percent and miscellaneous goods and services by 0.1 percent.

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