BUSINESS IN SHORT

Inflation at 0.6 percent

INFLATION reached 0.6 percent year-on-year in October, with core inflation also standing at 0.6 percent and net inflation at 0.4 percent, the Slovak Statistics Office announced on November 12 as reported by the TASR newswire.

INFLATION reached 0.6 percent year-on-year in October, with core inflation also standing at 0.6 percent and net inflation at 0.4 percent, the Slovak Statistics Office announced on November 12 as reported by the TASR newswire.

Overall inflation in October was brought down by core inflation by 0.02 percentage points month-on-month.

Meanwhile, regulated prices influenced total inflation by 0.02 percentage points, while indirect taxes had no impact on the overall figure. Food prices helped bring down core inflation by 0.08 percentage points, while net inflation raised core inflation by 0.06 percentage points.

Consumer prices went up by 0.6 percent on an annual basis in October, but no change was recorded when compared to September, TASR reported, quoting the data of the Slovak Statistics Office.

Year-on-year price hikes were recorded in education (5.7 percent), alcoholic beverages and tobacco (3 percent), food and non-alcoholic beverages (1.8 percent), hotels, cafes and restaurants (1.5 percent), recreation and culture (1.4 percent), clothing and footwear (0.9 percent), health care (0.5 percent), and accommodation, water, electricity, gas and other fuels (0.2 percent).

Conversely, prices fell on an annual basis in transport (2.3 percent), postal services and telecommunications (1 percent), miscellaneous goods and services (0.2 percent), and furniture, household equipment and ordinary household maintenance (0.1 percent).

Month-on-month increases were posted in clothing and footwear (1.5 percent), alcoholic beverages and tobacco (0.6 percent), health care (0.5 percent), recreation and culture, and miscellaneous goods and services (both 0.2 percent), and education and hotels, cafes and restaurants (both 0.1 percent).

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