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Development of consumer prices in April 2021

Development of consumer prices in April 2021

Last update: 19.05.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 13.05.2021




In April, inflation increased to 1,6 %, it is still affected mainly by the prices of fuels and cigarettes

Inflation in the SR increased for the third month in a row, in April 2021, prices were higher by 1,6 %, year-on-year. While in year-on-year comparison were pushed up by fuels with a growth up to 19,5 % and of tobacco products, in month-on-month comparison mainly by the higher food prices by 0,6 %.

Growth in consumer prices in April was higher than in the previous months (inflation was 1,4 % in March), but the dynamics of price growth was still much lower than a year or two ago - in April 2020 at 2,1 %. Food prices increased month-on-month, while the increase in prices was in all nine monitored components (groups) of food products, most notably in dairy products, vegetables and meat. Prices of meat and vegetables continued to be lower than a year ago and dairy products were at the level of last April.

Month-on-month, fuel prices continued to rise, but at a slower pace than in previous months. In total, year-on-year, fuels were almost a fifth more expensive, but this was partly due to the fact that fuel prices fell sharply in April a year ago due to a rapid slowdown in consumption during the first wave of the pandemic.

Data collection for the consumer price index also had a major impact on the corona crisis situation in March. Traditional field price survey has continued to be replaced by prices from other sources, e.g. websites, telephone and email inquiries and post-imputation. More in methodical note HERE.

Development in April 2021 compared with March 2021

Compared to March, the month-on-month growth of prices slightly slowed down to 0,2 % (in March, prices increased by 0,5 % month-on-month). Higher prices of food and non-alcoholic beverages had the most significant impact on the development, especially prices of food by 0,6 %. Month-on-month, higher prices were reflected mainly in the group of vegetables by 1,7 %, milk, cheese and eggs by 1,1 % and meat by 0,4 %. On the contrary, prices of soft drinks dropped by 0,2 %.

Higher prices of tools and equipment for the house and garden by 1,5 % within the group of furnishings, household equipment and routine household maintenance, as well as an increase in prices of transport by 0,1 %, also contributed to the month-on-month result. The increase continued in April in the prices of fuels and lubricants (fuels), prices increased by 0,9 % month-on-month, which is, however, a significantly lower growth rate than in the previous months of this year.

In the most significant component - prices for housing and energy, prices increased by 0,1 % compared to March, mainly due to higher prices of imputed rents, as well as for maintenance and repair of the dwelling. Energy prices remained unchanged month on month.

Lower prices for the whole group of alcoholic beverages and tobacco by 0,1 % contributed to the moderation of price growth in April, namely a decrease in prices of beer by 0,6 % and wine by 0,4 %. There was also a price decrease in health care by 0,2 %, mainly due to lower prices for pharmaceutical products by 0,3 %.

Compared to March, the consumer price index increased in April in households of employees, in households of pensioners, in low-income households by 0,2 %.

Development in April 2021 compared with April 2020

The April year-on-year inflation rate, which rose to 1,6 %, was affected by lower-weighted components in the consumer basket. The higher inflation was mainly the result of year-on-year higher prices of tobacco products by 16,5 % (for the second month in a row), which also affected the overall rate of price rise in the whole group of alcoholic beverages and tobacco by 8,7 %. The second group that significantly pushed inflation up was the prices of fuels and lubricants by 19,5 %, within the transport group. Petrol and diesel prices have been rising more intensively since the beginning of the year; in April, the year-on-year rate of price increase was also affected by the fact that a year ago prices fell sharply due to the first wave of the pandemic.

The overall level of inflation was also influenced by rising prices within the group of miscellaneous goods and services, prices for personal care increased by 2,9 % and also financial services (bank fees) by 2,1 %. From other groups, we paid more than a year ago for pre-primary and primary education by 7,1 % or for furniture and home furnishings by 2,6 %. These types of goods and services have increased prices more significantly in previous months.

Two groups, which represent the highest share in the structure of Slovak household expenditures among the 12 monitored components (divisions) of the consumer basket - food and alcoholic beverages and housing and energy, were declining year-on-year and dampened the year-on-year inflation.

In the most monitored component of the consumer basket, which is the second largest in terms of the share of household expenditure - in the group of food and non-alcoholic beverages, inflation was mainly influenced by year-on-year lower prices of vegetables by 7,6 %, fruit by 7 % and meat by 1,3 %. More than in April a year ago, we paid, for example, for bread and cereals by 0,4 %, fish by 2,9 % and for mineral waters, soft drinks and juices by 2 %.

In the housing and energy sector, the year-on-year level was affected for the fourth month in a row by the more significant decrease in gas and electricity prices in January, gas by 9,6 % and electricity by 4,2 %. On the contrary, price growth persisted for garbage collection, although it slowed to 6,5 %.

In April 2021, the consumer price index increased year-on-year for households of employees by 1,7 %, for households of pensioners by 1,1 % and for low-income households by 1,5 %.

On average for the first four months of 2021, compared to the corresponding period in 2020, consumer prices in total increased by 1,1 %. Compared to the corresponding period of 2020, the consumer price index increased for households of employees by 1,2 %, for households of pensioners by 0,8 %, for low-income households by 1,1 %.

The development of consumer price indices is surveyed on a universal consumer basket composed of 731 representatives - selected types of goods and services paid by the population, to which certain weights have been assigned. The scales are revised annually, currently valid for the year 2021. Prices are ascertained throughout the territory of the SR in a selected network of stores and service operations during the first 20 days of the reference month.

Outputs of the INFLATION product line:

First release - Development of consumer price indices (national inflation / CPI) always around the 14th to 15th day of the following month after the end of the reference period.
Current: Development of consumer price indices in April 2021 (reference period April 2021) today 13 May in the form of tables in DATAcube databases. and STATdat. and a text of the INFORMATIVE REPORT stored in the CATALOGUE OF INFORMATIVE REPORTS.

First release - Harmonised Indices of Consumer Prices (HICP) for the EU, usually a few days after national CPI inflation. The HICP has a uniform methodology in the EU to ensure the comparability of consumer price indices of individual countries. baskets for the CPI and the HICP differ in part; the HICP, unlike the CPI, does not include the components "Imputed rents"; and selected items related to major household repairs and maintenance, resulting in some differences in the CPI and HICP weights.
Current: The information report HARMONISED INDICES OF CONSUMER PRICES IN APRIL 2021 will be published on 19 May 2021 and stored in the CATALOGUE OF INFORMATION REPORTS. On the same day, the press report of Eurostat INFLATION IN THE EUROZONE is displayed at https://ec.europa.eu/eurostat/web/main/home

Electronic publication - "CONSUMER PRICE INDICES IN THE SR", which also contains more detailed data on the topic, other indices and more detailed structures of price in-creases as well as consumer price (cost of living) indices for selected social groups - for employees' households; pensioners; for low-income households.
Current: Publication of CONSUMER PRICE INDICES IN THE SR No. 4 2021 will be published on 28 May 2021 in the CATALOGUE OF PUBLICATIONS

Responsible person: Director of the Price Statistics Department Ing. ŠtefanAdamec


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