Food prices driving inflation in October


Food prices driving inflation in October

14. 11. 2017 14:58

Food prices contributed to an acceleration in inflation in Slovakia in October 2017. This stems from commentary on October consumer prices released by UniCredit Bank Czech Republic and Slovakia on Monday. Earlier in the day the Slovak Statistics Office reported that year-on-year inflation in Slovakia reached 1.7 percent in October, with core inflation standing at 2.5 percent and net inflation at 1.4 percent. Food drove approximately two thirds of overall year-on-year inflation, with the only item that recorded a month-on-month drop in price being fruit. UniCredit Bank analyst Ľubomír Koršňák declared that despite the gradual acceleration in inflation, Slovakia is unlikely to reach the European Central Bank's inflation target (slightly below 2 percent) by the end of 2017, although it will come closer in November.

Zuzana Botíková Foto: TASR

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