Slovakia's annual producer price growth eases to 1.4% in June 2012.

By bne IntelliNews July 30, 2012
Slovakias producer prices increased by 1.4% y/y in June 2012, easing from a 1.7% growth in the previous month and recording their lowest annual rise since the beginning of the year, data from the statistics office showed. Industrial producer prices on the domestic market rose 4% y/y, slowing down from a 4.2% annual growth a month earlier, while export producer prices slipped 0.4% lower following a 0.1% decline in May. On a monthly basis, producer prices moved 0.6% lower in June after a 0.2% growth in May. On the domestic market prices fell 0.2% m/m after a 0.7% growth in the previous month, while export prices eased 0.8% after falling 0.1% in May. Agricultural producer prices fell 0.2% y/y last month, as a 2.4% growth in animal product prices was offset by a 7.8% drop in crops prices. Prices of construction works rose 0.3% y/y last month and prices of construction materials and components increased by 1.7%. IntelliNews comment: Producer prices are a key preliminary indicator for the dynamics in consumer price inflation in the following month. The easing in producer price inflation last month indicates that July consumer price inflation might slow down from its June levels of 0.2% m/m and 3.6% y/y. The inflation in Slovakia is seen slowing down this year to an annual level of around 3.5% from an average annual level of 3.9% for 2011.

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