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.

“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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