Oil and food prices affect slower inflation

It is possible inflation will continue to slow down in the coming months.

(Source: Sme)

The annual inflation rate slowed down in March. After four months of stagnation, when it amounted to 3 percent, it reached only 2.3 percent in total in March. Core inflation reached 2.4 percent and net inflation 1.7 percent.

Compared with February 2019, core inflation affected the total inflation by a -0.04 percentage point and regulated prices by a 0.01 percentage point, while indirect taxes did not affect total inflation. Core inflation was affected by food prices by a 0.04 percentage point and net inflation by a -0.08 percentage point, the Statistics Office informed.

Related articleA lower tax on several foodstuffs did not bring prices down Read more 

“Mostly fuel prices, which responded to the falling oil prices on the global markets, contributed to the slower increase in prices,” Ľubomír Koršňák, analyst with UniCredit Bank Czech Republic and Slovakia, wrote in a memo.

Fuel prices fell in March by 5.6 percent month-on-month, while in annual terms they dropped by nearly 8 percent, he added.

Inflation was negatively affected by food prices and demand inflation as well.

Rate of food price increase slowed

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Get daily Slovak news directly to your inbox

Theme: Economics

Read more articles by the topic

Top stories

Ondrej Ďurica (first left) and Milan Mazurek (second left) are among those leaving ĽSNS.

News digest: The far right is falling apart

One person died after being vaccinated in Slovakia. Almost 2.6 million people tested so far.

2 h

Worse-off districts in Slovakia should undergo another round of testing

It is necessary to carry a negative COVID-19 test result from January 27 to at least February 2.

9 h
Igor Matovič celebration his election victory on March 1, 2020.

It was a long time ago and it never happened anyway

How much of the present will be intelligible through the kaleidoscopic lens of digital media in just a few years – or even months?

3 h
White Crow laureates (l-r): Andrej Belák, Jolana and Štefan Náther, Jaroslav Macek

The stories of White Crow laureates show how important it is to speak up against injustice

The awards went to four initiatives in justice, education, health care and minorities.

25. jan