Slovakias annual producer price growth for November 2011 steadied at 3.8% for a third month in a row, data from the statistics office showed. Industrial producer prices on the domestic market grew 3.1% y/y in November after climbing 3% y/y a month earlier, while export producer prices rose 4.3% following a 4.4% growth in October. On a monthly basis, producer prices remained flat, following a 0.1% increase in October. On the domestic market prices grew 0.2%, slowing down from a 0.5% rise in October, while export prices fell further by 0.1% in November after easing 0.3% in the previous month. Producer prices growth is also seen slowing down next year to about 2% to 2.5% on average, according to Postova Banka analyst Eva Sadovska. In November, agricultural prices slipped 0.6% y/y, as a 6.5% drop in crops prices could not be offset by a 9% jump in animal product prices. Since the beginning of the year, agricultural products grew 19.5% on average mainly due to a surge in crops prices. Prices of construction works rose 0.9% y/y in November and registered a 1.2% average growth for the first 11 months of the year. Prices of construction materials and components increased by 1.3% in November and by 1.8% on average since the beginning of the year. IntelliNews comment : Producer prices are a key preliminary indicator for the dynamics in consumer price inflation in the following month. In November, consumer prices grew 0.5% m/m and 4.6% y/y and we can expect roughly the same figures for December. The annual consumer price inflation is projected at around 4.5% in 2011 and halving by the end of next year.
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