Statistics Office: Core inflation was 0.2 percent in May, net 0.3 percent

Year-on-year inflation did not change in May 2014 but core inflation amounted to 0.2 percent in May, while net inflation was 0.3 percent, the Slovak Statistics Office (ŠÚ) informed on June 12.

Year-on-year inflation did not change in May 2014 but core inflation amounted to 0.2 percent in May, while net inflation was 0.3 percent, the Slovak Statistics Office (ŠÚ) informed on June 12.

Against previous month, the core inflation in May affected the total inflation by 0.24 percentage points (p.p.), regulated prices and indirect taxes did not have an impact on the total inflation. Food prices influenced core inflation by 0.16 p.p. and net inflation affected core inflation by 0.08 p.p.

In May, compared with April, consumer prices rose by 0.2 percent in total. Prices grew in the commodities: food and non-alcoholic beverages by 1.1 percent, transport by 0.6 percent, clothing and footwear by 0.4 percent, alcoholic beverages and tobacco by 0.2 percent, furnishings, household equipment and routine household maintenance by 0.1 percent. Prices were reduced for postal and telecommunication services by 0.8 percent, miscellaneous goods and services by 0.2 percent. Prices remained at the level of last month in housing, water, electricity, gas and other fuels; health; recreation and culture; education; hotels, cafés and restaurants, the ŠÚ wrote.

In May, compared with May 2013, consumer prices did not change in total.
On average, over the first five months consumer prices fell by 0.1 percent in total compared with the corresponding period in 2013. In May compared with April, index of consumer prices in households of employees increased by 0.2 percent and in households of pensioners by 0.3 percent. In May, the index of consumer prices in households of employees decreased by 0.1 percent year-on-year, and in households of pensioners it increased by 0.1 percent.

On average, over the first five months, compared with the same period in 2013, index of consumer prices in households of employees decreased by 0.1 percent and in households of pensioners did not change.

The macro-economic analyst of the VÚB bank, Andrej Arady, commented the figures of May inflation for the TASR newswire. “The current development of inflation as a whole, but also the structure of inflation, is rather a support for household consumption,” he said.

(Source: ŠÚ, TASR)
Compiled by Zuzana Vilikovská from press reports
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