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Slovakia Inflation Highest Since December 2003

Slovakia’s consumer price inflation increased to the highest since December 2003, figures from the Statistical Office of the Slovak Republic showed on Tuesday.

The consumer price index rose 9.0 percent year-on-year in February, following a 8.4 percent rise in January. Economists had expected a rate of 8.9 percent.

Transport cost increased 10.6 percent yearly in February and those of restaurants and hotels increased 15.6 percent.

Prices for housing, water, electricity, gas and other fuels, and alcoholic beverages and tobacco rose by 13.2 percent and 8.6 percent, respectively.

On a monthly basis, consumer prices rose 0.9 percent in February, after a 2.7 percent gain in the previous month. Economists had forecast a rate of 0.8 percent.

The core inflation rose to 7.9 percent in February from 7.1 percent in January. Economists had expected a growth of 7.7 percent.

On a month-on-month basis, the core CPI rose 1.0 percent in February, after a 1.6 percent increase in the prior month. Economists had forecast a 0.8 percent rise.

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