Growth of consumer prices slows down in Slovakia

2010-02-15

In comparison with the previous month, the growth of consumer prices slowed down in January 2010. Consumer prices rose by 0.4%, according to the Slovak National Bank (NBS), a slight increase over the 0.5% recorded in December 2010, according to the Slovak Statistical Office.
According to analysts from Slovenska Sporitelna Bank, the January slowdown of inflation could have been caused in large part by the decrease in the price of energy. However, this did not prevent some companies, particularly those in the service sector, from increasing their prices.
Analysts from the Postal Bank expect the most significant price increases to affect food and soft drinks. The price of cigarettes is also likely to increase after the higher excise duty rates on cigarettes take effect. For the whole of 2010, analysts expect a slightly faster increase in prices than last year.
For detailed information on the Slovak consumer price index (CPI), please see the data sheet that accompanies this issue of Central Europe Retail Update.