Inflation drops to 0.6 percent in October

CONSUMER inflation in Slovakia continues to slow. Using national methodology, inflation was measured at 0.6 percent in October, which is 0.4 percentage points less than in the previous month, according to the data published by the Statistics Office on November 12.

CONSUMER inflation in Slovakia continues to slow. Using national methodology, inflation was measured at 0.6 percent in October, which is 0.4 percentage points less than in the previous month, according to the data published by the Statistics Office on November 12.

During the first 10 months consumer prices rose in annual comparison by 1.6 percent, which is 0.1 percentage points less than the nine-month average. On a monthly bases prices stagnated, the SITA newswire reported.

In annual terms prices rose the most in education (5.7 percent), alcoholic beverages and tobacco (3 percent) and groceries and non-alcoholic beverages (1.8 percent). Prices in the sector of hotels, cafés and restaurants grew by 1.5 percent, followed by recreation and culture (1.4 percent), clothing and footwear (0.9 percent), health (0.5 percent), and housing, water, electricity, gas and other fuels (0.2 percent). On the other hand, prices dropped in transport (2.3 percent), post and telecommunication services (1 percent), various goods and services (0.2 percent), furniture, furnishing and ordinary house maintenance (0.1 percent), SITA wrote.

In a month-on-month comparison prices increased the most in clothing and footwear (1.5 percent), alcoholic beverages and tobacco (0.6 percent), health (0.5 percent), recreation and culture and various goods and services (both 0.2 percent), and education and hotels, cafés and restaurants (both by 0.1 percent). They decreased in transport (0.8 percent), groceries and non-alcoholic beverages (0.4 percent), and furniture, house furnishing and ordinary maintenance (0.1 percent). The prices of housing, water, electricity, gas and other fuels as well as the prices of post and telecommunication services remained the same, as reported by SITA.

Annual core inflation dropped from 1 percent in September to 0.6 percent in October, while net inflation stood at 0.4 percent, the same level as the previous month. In annual terms core inflation stagnated and net inflation rose by 0.1 percent, SITA wrote.

Source: SITA

Compiled by Radka Minarechová from press reports

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