Prices continued to fall in February

Consumer prices fell in 0.5 percent in February as compared to the same month in 2014, while in January the decline was 0.4 percent.

Fruit and vegetable prices went up the most in January 2019.Fruit and vegetable prices went up the most in January 2019. (Source: SME)

Prices also fell in the month-on-moth comparison, declining in February 0.2 percent against January, the SITA newswire quoted the Slovak Statistics Office (ŠÚ) on March 12.

In transport, prices decreased y-o-y in 7.7 percent; in food and non-alcoholic beverages by 1.9 percent; in housing, energies and fuels by 0.6 percent; in postal services and telecoms by 0.4 percent. Prices increased in education by 3.1 percent; in furnishings and house maintenance by 2.1percent; in miscellaneous goods and services, and in alcohol and tobacco both by 1.7 percent. Prices also grew in clothing, restaurants and hotels, leisure time and culture and health.

Month-on-month, the prices decreased in transport (1.2 percent), clothing (0.7 percent), food and non-alcoholic ebverages and alcohol-tobacco both in 0.3 percent; prices of furnishings grew in 0.3 percent m-o-m, hotels and restaurants (0.2 percent); and health (0.1 percent). Prices for housing, energy and fuel; postal and telecom services and leisure time and culture remained flat. 

“The main reason for declining prices remains also in February unchanged – the cheap oil,” UniCredit Bank analyst Ľubomír Koršňák told SITA. “Despite the oil prices already starting to grow in February, the price of fuel in Slovakia has been still declining since mid February.” However, Koršňák also sees the regulated prices and groceries as behind the year-on-year decline. He added that currently there is no stronger inflation “pull”, and the trend should continue for most of this year. In March, the y-o-y declines should begin to lessen. 

Inflation should remain around zero, or slightly below zero, also for the rest of the year, with a speed-up of the growth of prices y-o-y expected only towards the end of 2015. 

Get daily Slovak news directly to your inbox

Theme: Economics

Read more articles by the topic

Top stories

News digest: Penta partner Haščák reportedly charged with corruption after a police raid

Anti-communist fighters will receive pensions. Sunk tugboat being drawn out of the water.

Jaroslav Haščák

Car industry needs to jump on the latest trends

Economy minister promises extensive support for hydrogen technologies in Slovakia.

The Hydrogen Technology Research Centre (CVVT) is to be launched at the end of 2020 or beginning of 2021 in Košice to do R&D in this field.

Responsibility goes hand in hand with EU advantages, says President Čaputová

President Zuzana Čaputová spoke with Vice President of the European Commission for Values and Transparency, Věra Jourová.

President Zuzana Čaputová

Half of all parents lack time to help their children with distance learning

Some have a hard time motivating their children, others do not understand the curriculum.