Slovak inflation eased to 8.9% y/y in August

Slovak inflation eased to 8.9% y/y in August
/ bne IntelliNews
By Albin Sybera September 18, 2023

Consumer price indices (inflation) increased by 8.9% year-on-year and stayed unchanged month-on-month, Slovakia’s statistical office reported. The y-o-y growth of inflation is the lowest since February 2022.

The inflation curve has been decreasing for the sixth consecutive time. In July, the y-o-y growth was 9.7%, which was the first time this year that the inflation was in single digits.

“This year, for the first time m-o-m, the prices of all good items became lower, especially seasonal vegetables and fruits, but this decrease was balanced by a significant increase in the price of fuel in August,” statisticians highlighted.

Food prices dropped by an average of 1.1% m-o-m, with vegetables down by 4.6%, fruit by 2.8%, milk, cheese and eggs by 0.8%, and bread and cereals by 0.9%. Lower prices in the housing and energy sector also significantly impacted the m-o-m inflation, with imputed rent down by 0.5% and solid fuels by 1.7%. On the other hand, the price of fuel rose by 7.3%.

An analyst from the XTB consulting, Marek Nemky, told the Slovak public broadcaster RTVS that m-o-m developments have stabilised. “We can observe stable prices in the supermarkets for the past five months,” he was quoted as saying.

 

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Data

Hungarian retail sales fall for 11th straight month in October

Decline of 6.5% y/y is second worst in EU.

Retail sales in Romania slightly stronger in October

Retail sales rose by 0.9% m/m in October, recouping the losses incurred over the previous three months.

Drop in Czech retail sales slowed down to 1.4% in October

Czech retail sales decreased by 1.4% year on year and increased by 0.6% month on month in October, in the softest monthly drop in a year and a half. The drop in sales eased compared to the 4% y/y drop in September and the 2.8% y/y drop in August.

Kazakhstan's November services PMI shows first contraction in eight months

Despite lapse in demand, firms said to retain positive attitude on 12-month outlook for activity, which remained historically elevated. Inflationary pressures continued to retreat.

Industrial prices in Romania resume growth in September-October as energy prices remain elevated

Industrial prices in Romania increased by 2.4% in September-October.

Hungarian retail sales fall for 11th straight month in October
7 hours ago
Retail sales in Romania slightly stronger in October
7 hours ago
Drop in Czech retail sales slowed down to 1.4% in October
7 hours ago
Kazakhstan's November services PMI shows first contraction in eight months
1 day ago
Industrial prices in Romania resume growth in September-October as energy prices remain elevated
1 day ago

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