Lower food prices contributed to slower inflation

Inflation marked by its lowest values in more than 2.5 years.

Illustrative stock photoIllustrative stock photo (Source: TASR)

The year-on-year increase in consumer prices fell in July 2020 for the fifth month in a row. Prices grew by only 1.7 percent, the lowest value since October 2017, the Statistics Office informed.

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“Food prices brought the biggest surprise, as in June,” Ľubomír Koršňák, analyst of the UniCredit Bank Czech Republic and Slovakia, wrote in a memo.

Food prices had an impact

July's inflation was mainly influenced by a month-on-month decline of 0.8 percent.

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