Slovakias EU-harmonised inflation slows to 3.8% in July 2011.

By bne IntelliNews August 18, 2011
Slovakias EU-harmonised inflation eased to 3.8% y/y in July 2011 from a 31-month high of 4.2% y/y in May and 4.1% y/y in June, the statistics office said. Inflation slowed for a second month in a row. Lower food prices were the main driver of the slowdown. Prices of foods increased by 5.4% y/y in July, following a 7.1% rise in the previous month. Otherwise the only group that saw a decrease in prices was furnishing and household equipment, where prices dropped by 0.9% y/y. The groups with significant price hikes were transport - up by 6.1% y/y, housing and utilities - by 6.3% y/y and alcoholic beverages up by 4% y/y. Prices of health services and medicines surged by 4% y/y. On a monthly basis, consumer prices dropped by 0.2%, after they stayed flat in the previous month. The EU-harmonised prices followed closely the development of the headline inflation that slowed to 3.7% y/y in July from 3.9% in June.
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