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Development of consumer prices in July 2020

Development of consumer prices in July 2020

Last update: 13.05.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 13.08.2020

 

The year-on-year increase in consumer prices fell for the fifth month in a row, reaching 1,7 % in July, it was the lowest since October 2017.

The year-on-year inflation slowed its rate for the fifth month in a row, falling by 0,1 percentage point in July to 1,7%, it is the lowest since October 2017. Its level was mainly affected by a month-on-month decline in food prices (fruit, vegetables, meat) and by a decrease in prices of clothing and footwear by 0,4 %. A rate decrease in the total inflation was moderated by a month-on-month growth in transport prices (higher fuel prices), higher prices in housing and energy (higher prices in maintenance and repair of dwellings) and in the division of recreation and culture (package holiday prices).

Development of consumer prices in July compared to June 2020

Month-on-month, prices in divisions of transport increased by 2,2 %; restaurants and hotels by 0,6 %; recreation and culture by 0,4 %; miscellaneous goods and services by 0,3 %; housing, water, electricity, gas and other fuels by 0,1 %. Prices of food and non-alcoholic beverages decreased by 0,8 %; alcoholic beverages and tobacco; clothing and footwear both by 0,4 %; in healthcare by 0,2 %. Prices of furniture, furnishings and routine household maintenance; communications; education remained at the June level.

A decrease in food prices by 1 % was influenced by lower fruit prices by 7,1 %; vegetables (including potatoes) by 5,5 %; meat by 1,1 %; fish by 0,5 %; oils and fats by 0,1 %. Prices of bread and cereals increased by 1,1 %; milk, cheese and eggs by 0,5 %. Prices of non-alcoholic beverages increased by 1,8 %.

Lower prices of fruit were caused by a decrease in prices of watermelons by 48,2 %, table grapes by 19,2 %, bananas by 9,1 %, prices of apples mostly increased by 13,1 %. A decrease in vegetable prices was influenced by lower prices of cauliflower by 24,5 %, tomatoes by 11 %, peppers by 10 %, potatoes by 6,6 %. A decrease in meat prices was influenced by lower prices in prices of pork meat by 3 %, poultry by 2,6 %, sausages by 0,5 %.

 A decrease in prices in the division of alcoholic beverages and tobacco was influenced by lower prices of alcoholic beverages by 0,8 % (beer prices decreased the most by 2,2 %).

 A decrease in prices in the division of clothing and footwear was influenced lower prices of footwear by 1,1 %; clothing by 0,1 %.

 An increase in prices in the division of housing, water, electricity, gas and other fuels was caused by higher prices of services for maintenance and repair of the dwelling by 0,5 %; imputed rentals of owner-occupiers; materials for the maintenance and repair of the dwelling; refuse collection equally by 0,1 %.

Lower prices in the division of health care were influenced by a decrease in prices of medical products, medical appliances and equipment by 0,3 %. Prices of outpatient services increased by 0,5 % (services of dentists by 0,6 %, services of paramedical staff – thermal bath by 0,3 %).

 A rise in prices in transport was influenced by higher prices of operation of personal transport equipment by 3,5 % (prices of fuels and lubricants for passenger transport equipment increased by 4,7 %) and transport service activities by 1,5 %. Prices of purchase of transport equipment decreased by 0,2 % (prices of second-hand motor vehicles decreased by 0,9 %, prices of new motor vehicles increased by 0,2 %).

Higher prices in the division of recreation and culture were mainly influenced by a rise in prices of package holidays by 2,7 %; recreational services and culture by 0,3 %. Prices of other recreational items and equipment for gardens and pets decreased by 0,3 %; audiovisual and photographic technology by 0,2 %.

In the division of education, prices of pre-primary, primary; secondary; tertiary education and education indefinable by level remained at the level of the previous month.

An increase in prices in the division of restaurants and hotels was influenced by higher prices of accommodation services by 0,8 %; catering services 0,5 % (payments for meals in canteens for pensioners by 1,1 %, in restaurants, in cafés by 0,7 %, in canteens by 0,1 %).

An increase in prices in the division of miscellaneous goods and services was influenced by higher prices mainly in prices of insurance by 1% (motor car insurance by 1,5 %); social protection by 0,5 % (payment for the provision of care services by 0,9 %, payment for day care by 0,7 %, payment for social services by 0,4 %, fee in private nursery by 0,3 %); personal care by 0,3 %; financial services n.e.c. (financial services provided by banks by 0,1 %).

In July, compared to June, the consumer price index increased by 0,1 % in households of employees, it decreased by 0,1% in households of pensioners and it did not change in low-income households.

Price development in July 2020 compared to July 2019

In a year-on-year comparison, prices in the divisions miscellaneous goods and services increased by 4,7 %; education by 4,5 %; healthcare by 3,6 %; housing, water, electricity, gas and other fuels by 2,8 %; restaurants and hotels by 2,2 %; food and non-alcoholic beverages by 2,1%; furniture, furnishings and routine household maintenance by 1,6 %; recreation and culture by 1 %; alcoholic beverages and tobacco by 0,5 %; clothing and footwear by 0,2 %. Only prices in transport decreased by 3,9 %. Prices of communication did not change.

On average over the seven months of 2020, compared to the same period in 2019, consumer prices increased by 2,3 % in total.

In July 2020, the consumer price index increased by 1,7 %, in households of employees, by 2 % in households of pensioners and by 1,9 % in low-income households year-on-year.

On average over the seven months of 2020, compared to the same period of 2019, the consumer price index increased by 2,2 % in households of employees, by 2,5 % in households of pensioners and by 2,4 % in low-income households.

    

    


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