Inflation drops to lowest level since late 2018

A greater fall was prevented by the higher price of fruit and vegetables.

Illustrative stock photoIllustrative stock photo (Source: SME)

The annual rate of inflation slowed down in April to 2.1 percent in total, compared to 2.3 percent in March. It thus dropped to its lowest level since late 2018.

At the turn of 2019 and 2020, inflation oscillated around 3 percent.

“The April slow-down was slightly lower than we expected as it was hindered by the dynamic rise in food prices,” Ľubomír Koršňák, analyst with UniCredit Bank Czech Republic and Slovakia wrote in a memo.

On the other hand, it was pulled down by cheap natural oil. The slight slow-down was also reported as caused by demand inflation, but this might have been affected by closed shops, he added.

Related articleCoronavirus pandemic has affected retail revenues Read more 

In monthly terms, consumer prices remained unchanged in total, according to the Statistics Office.

Food up, oil down

The Statistics Office also admitted that the consumer price index in April was significantly affected by the situation associated with the coronavirus crisis. The traditional field price survey was influenced by the closure of outlets and service operations and the cessation of field surveys. Uncollected prices were replaced by prices from other sources, e.g. websites, telephone and e-mail inquiries and data scanner information (food, alcoholic beverages) of retail chains have been used. A portion of the uncollected prices was obtained by imputation, i.e. using the month-on-month index from the previous year (April 2019 vs. March 2019).

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

E-quarantine now possible via Apple phones (news digest)

Court proceeding over controversial cheques postponed and the police reportedly detained the head of the Bratislava ring-road constructor. Roundup of news from May 29.

The primary school in Prešov is preparing for reopening on June 1.

Gabčík and Kubiš were taken in by an English family while they prepared for the assassination of Heydrich

The Ellisons had no idea about Operation Anthropoid, which resulted in the assassination of the main Holocaust architect by Czechoslovak paratroopers.

The administrator of the Porchester Gate building in London, where the Czechoslovak military intelligence service was based during the Second World War and where secret agents planned Operation Anthropoid, shows photos of the event's executors - Jan Kubiš and Jozef Gabčík.

Slovakia-based US musician creates his 'Ghost Sex Empire'

Francisco Mejia and his debut album 'Ghost Sex Empire' prove that dreams are attainable after years.

American musician Francisco Mejia recorded his debut album 'Ghost Sex Empire' in Slovakia. He is already working on the concept of his sophomore record.

Coronavirus may ruin Slovakia's music clubs for good

Without help, another COVID-19 wave could be the final nail in the coffin.

Club goers listen to live music at the Stromoradie music club in Prešov in 2019.