Year-on-year growth of consumer prices in Slovakia stagnated at the May level of 4.6 percent in June. The average headline inflation for six months of this year thus reached 4.2 percent, which is the same level as the January-May average. However, consumer prices rose 0.4 percent on a monthly basis while in May, monthly headline inflation reached 0.3 percent, the Slovak Statistics Office informed SITA on Thursday.
Net inflation, which excludes the effects of food price development, slowed 0.1 percentage points to 3.4 percent y/y in June compared with May, which is the value of this year's average. Monthly net inflation accelerated from 0.2 percent in May to 0.4 percent in June.
Y/y growth of food prices continued to accelerate in June. They grew 11.1 percent y/y in June , which is one percentage point more than in May. M/m growth of food prices represented 0.8 percent in June while in May they went up 1.1 percent. Food prices were higher by 9.5 percent on average in the January-June period.
Core inflation, which measures growth of consumer prices with the exclusion of regulated prices and administrative interventions in the area of taxes remained at May's 4.8 percent on a y/y basis. For the first time this year it did not grow compared with the previous month. Average core inflation for the first six months of this year rose 0.1 percentage points compared with the five-month value and represented 4.5 percent. On a monthly basis, core inflation copied the May development as well when it reached 0.4 percent again.