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Analysts: Inflation in May Confirms Price Stability in Slovakia
Wednesday 16 June 2010 Zoom in | Print page
Bratislava, June 16 (TASR) - The rate of EU-harmonised inflation in Slovakia in May (0.7 percent year-on-year) confirms price stability in Slovakia and signalises that there are no pressures for price increases, analysts told TASR on Wednesday.
The Statistics Office earlier in the day announced that inflation in Slovakia measured by EU methodology stood at 0.7 percent y-o-y in May, the same figure as in April, while month-on-month prices went up by 0.1 percent.
ING Bank analyst Eduard Hagara expects that a gradual consolidation of consumer demand could cause harmonised inflation to accelerate to 1 percent in the course of the year.
Meanwhile, VUB bank analyst Martin Lenko thinks that EU-harmonised inflation will decelerate from 0.7 percent to 0.5 percent in July. "We expect that food prices should drop slightly due to fruit and vegetables becoming cheaper in the summer. Conversely, this should be balanced out by a slight increase in the cost of housing and transport," he said.
"We've been enjoying EU-harmonised inflation below 2 percent for 15 months in a row. Its month-on-month deceleration to 0.1 percent confirms that as earlier cost pressures from world's commodity markets have died down, there's no serious fear of demand inflation pressure in Slovakia," said Volksbank Slovakia analyst Vladimir Vano.
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