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Stats Office: Inflation falls, industrial production rises

OVERALL inflation in Slovakia stood at -0.5 percent year-on-year in February, with core inflation at -0.3 percent and net inflation at plus 0.2 percent, the Statistics Office reported on March 12.

(Source: SME)

Core inflation had a negative impact of 0.17 p.p. on overall inflation, while regulated prices and indirect taxes had no influence on the figure. Core inflation was down 0.02 p.p. largely because of food prices, and net inflation had a negative impact on core inflation by 0.15 p.p.

Also consumer prices shrank by 0.5 percent year-on-year in February, according to data released by the Slovak Statistics Office.

Annual price drops were recorded in transport (-7.7 percent), in food and non-alcoholic beverages (-1.9 percent), in accommodation, water supplies, electricity, gas and other fuels (-0.6 percent) and in postal services and telecommunications (-0.4 percent), according to the TASR newswire.

In terms of month-on-month developments, February saw falls in consumer prices by -0.2 percent. Prices went down m-o-m in transport (-1.2 percent), in clothing and footwear (-0.7 percent), in food and non-alcoholic beverages (-0.3 percent) and in alcoholic beverages and tobacco (-0.3 percent).

Conversely, monthly increases were seen in furniture, household equipment and ordinary household maintenance (0.3 percent), in cafes and restaurants (0.2 percent) and in health care (0.1 percent).

When the first two months of the year are compared with the same period of last year, consumer prices fell 0.5 percent.

Further, The Industrial Production Index grew by 2.4 percent year-on-year in January, according to the Statistics Office.his was due to annual hikes in supplies of electricity, gas, steam and air conditioning (by 9.8 percent), in mining and quarrying (4.5 percent) and in industrial production (1.1 percent).

Topic: Economics

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