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Development of consumer prices in September 2020

Development of consumer prices in September 2020

Last update: 14.10.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 14.10.2020



In September, compared to August, consumer prices did not change in total, they were higher by 1,4 %,year-on-year. After higher growths last year and at the beginning of this year, inflation has risen the slowest in the last three years.

The September´s year-on-year rise in inflation was mainly due to higher prices for housing and energy (by 2,6 %), prices of miscellaneous goods and services (by 4,6 %), and higher prices in restaurants and hotels and in health care also affected significantly the total growth. Food prices were higher only by 0,1 % year-on-year.

Development of consumer prices in September 2020 compared to August 2020

The inflation remained unchanged month-on-month. The most considerable price growth was recorded in education by 1,8 %; alcoholic beverages and tobacco by 0,9 %; clothing and footwear by 0,6 %; health by 0,5 %, but these growths were compensated by lower prices in transport by 0,5 % and goods and services in the division of recreation and culture by 0,4 %.

A decrease in  food prices by 0,5 % was influenced by lower fruit prices by 1,6 %; bread and cereals by 1,5 %; vegetables (including potatoes) by 0,7 %; milk, cheese and eggs by 0,5 %; oils and fats by 0,3 %. Prices of meat increased by 0,4 % due to higher prices of sausages and beef. Prices of non-alcoholic beverages also dropped by 0,5 %, prices decreased mainly of mineral waters, non-alcoholic beverages and juices by 1,1 %.

An increase in prices in the division of alcoholic beverages and tobacco by 0,9 % was influenced by higher prices of alcoholic beverages by 1,4 % (beer prices increased the most by 3 %) as well as by  a price rise of tobacco by 0,4 %.

 A price rise in the division of clothing and footwear was influenced by higher prices of footwear by 1,4 %; clothing by 0,2 %.

Prices in the division of housing, water, electricity, gas and other fuels increased month-on-month only slightly by 0,1 %

Higher prices in the division of health care by 0,5 % were influenced by an increase of prices of medical products, medical appliances and equipment by 0,5 % (mainly of pharmaceutical products and other medical products equally by 0,6 %); outpatient services by 0,3 % (services of dentists by 0,4 %).

A drop in prices in  transport by 0,7 % was influenced by lower prices of operation of personal transport equipment, of which mostly by the prices of air transport and month-on-month also by the drop of prices of fuels by 1,1 %. Prices of purchase of transport equipment also decreased by 0,3 %.

A decrease in prices in the division of recreation and culture by 0,4 % was mainly due to lower prices of package holidays by 2,9 %. In particular, prices of recreational services and culture increased by 0,4 %.

An increase in prices in the division of education by 1,8 % was caused by higher fees for language courses, language schools, fees in basic art schools, for school clubs and fees in kindergarten.

An increase in prices in the division of restaurants and hotels was influenced by higher prices of catering services by 0,4 %, especially in canteens by 0,8 %.

Higher prices in the division of miscellaneous goods and services were influenced by an increase in insurance prices by 1,3 % (motor vehicle insurance by 2 %); social protection by 0,7 % (fee in private nursery by 1,7 %); financial services n.e.c. by 0,3 % (financial services provided by banks by 0,3 %).

In September, compared to August, the consumer price index did not change in households of employees, in households of pensioners, in low-income households.

Price development in September 2020 compared to September 2019

Year-on-year, prices for housing, including water, electricity, gas and other fuels increased by 2,6 %, mainly due to an increase in electricity prices (by 8,8 %) and prices for garbage collection (by 15 %). Price developments in this division have a significant impact on the total inflation, as consumers spend on average almost a quarter of expenditure on housing and energy.

Consumers paid more by only 0,1 % for food and non-alcoholic beverages, which also have a significant share in the consumer basket. In particular, food prices were 0,4 % higher than in September 2019. Of these, meat (by 6 %), fish and seafood the most, while vegetables (by 10,6 %) and fruit (by 2,1 %) became cheaper the most.

Higher prices of miscellaneous goods and services by 4,6 % also affected a rise in inflation. Of these, financial services (by 5,6 %) and prices for personal care (by 4,8 %), such as hairdressing and beauty services (by 7,7 %), rose more significantly year-on-year.

As for the division of restaurants and hotels, prices increased the most in catering services (by 4,7 %), less in accommodation (2,8 %). In health care, consumers paid more by 3,7 %  in September than last year, mainly for outpatient services (by 3,8 %), most of them for dental services (by 4,7 %). In general, prices for education also increased by 2,4 %; recreation and culture by 2 %; furniture, furnishings and routine household maintenance by 1,9 %; alcoholic beverages and tobacco by 1,1 %; clothing and footwear by 0,3 %. The total year-on-year inflation rate was also affected by a 6,4 % drop in transport prices.

On average, in the first nine months of 2020, compared to the same period in 2019, consumer prices in total increased by 2,1 %.

On average, in the first nine months of 2020, compared to the same period of 2019, the consumer price index increased for households of employees by 2 %, for households of pensioners by 2,3 % and for low-income households by 2,2 %.

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