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Development of consumer prices in December 2020
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Development of consumer prices in December 2020

Last update: 14.10.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 14.01.2021



An increase in consumer prices  jumped slightly to 1,6 % in December 2020, still at its lowest level in last three years

For the second consecutive month, a year-on-year rise in food prices moderated, from 1,2 % in October to 0,6 % in December. A decrease was mainly due to lower prices of vegetables, sugar, chocolate, confectionery, fish and seafood.

In December 2020, compared to November, a  price rice in year-on-year comparison speeded its dynamics by 0,1 percentage point (p.p.) and inflation reached 1,6 %. It thus remains at a minimum compared to the development before the coronary crisis. The current value was the third lowest in 2020.

In the most monitored division, as for the 12 components of the consumer basket - in food and non-alcoholic beverages, prices were only by 0,6 % higher year-on-year, which was influenced by lower growth in division of food (also an increase by 0,6 %). It was the second lowest value in 2020. Also in December, the highest year-on-year price increases were reflected especially in divisions that are included to the smaller ones in the structure of expenditures of Slovak households, such as in division of hotels and restaurants, miscellaneous goods and services, as well as healthcare.

In 2020, consumer prices increased by 1,9 % year-on-year, in total. The annual inflation rate decreased by 0,8  p.p. compared to 2019 and was thus the lowest since 2017. As for the 12 components of the consumer basket, a year-on-year decline in prices in division of transport affected its level, especially due to lower fuel prices. On the other hand, price increases in division of housing (electricity, services for maintenance and repair of the dwelling), food prices (meat, fruit) and in division of miscellaneous goods, services (personal care) prevented a larger decrease.

Development of consumer prices in December compared to November 2020

In December 2020, compared to November 2020, consumer prices decreased by a total of 0,1 %. Prices decreased, month-on-month, in divisions: food and non-alcoholic beverages; alcoholic beverages and tobacco equally by 0,5 %; clothing and footwear by 0,2 %. Prices increased in divisions:  transport by 0,4 %; miscellaneous goods and services by 0,3 %; furniture, furnishings and routine household maintenance; in healthcare equally by 0,1 %. Prices remained at the level of the previous month in divisions of housing, water, electricity, gas and other fuels; communications; recreation and culture; education; restaurants and hotels.

A decrease in prices in division of food and non-alcoholic beverages was influenced by a decrease in food prices by 0,4 %, which affected lower prices of vegetables (including potatoes) by 3 %; fish; sugar, jam, honey, syrups, chocolate and confectionery equally by 1%; meat by 0,6 %; milk, cheese and eggs by 0,3 %; bread and cereals by 0,2 %, month-on-month. Fruit prices increased by 2,1 %; oils and fats by 1,3 %. Prices of non-alcoholic beverages decreased by 0,8 % (prices of mineral waters, non-alcoholic beverages and juices decreased by 2,2 %, prices of coffee, tea and cocoa increased by 1,3 %).

A decrease in prices in division of alcoholic beverages and tobacco was influenced by lower prices of alcoholic beverages by 0,9 % (wines by 1,4 %, spirits by 1,2 %, beer by 0,2 %).

Lower prices in division of clothing and footwear were caused by a fall in footwear prices by 0,7 %. Higher prices in division of furniture, furnishings and routine household maintenance were mainly influenced by a 1% rise in prices of tools for house and garden. A rise in prices in division of healthcare was influenced by higher prices of outpatient services by 1 % due to an increase in dentists' services by 1,3%.

An increase in transport was affected by higher prices of passenger transport by 2,1 % (prices of fuels and lubricants for passenger transport increased by 2,8 %). A rise in prices in division of miscellaneous goods and services was mainly due to a rise in prices of personal care by 0,4 %;

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

Price development in December 2020 compared to December2019

In December 2020 compared with December 2019, consumer prices increased by 1,6 %. In year-on-year comparison, prices grew in divisions of miscellaneous goods and services by 4,1 %; restaurants and hotels by 3,9 %; healthcare by 3,7 %; education by 2,9 %, housing, water, electricity, gas and other fuels by 2,4 %; recreation and culture by 2,1 %; furnishings, household equipment and routine household maintenance by 1,6 %; alcoholic beverages and tobacco by 1,2 %; food and non-alcoholic beverages by 0,6%; clothing and footwear by 0,1 %. It decreased in transport by 3,4 %. Prices of communications remained unchanged.

In December 2020, in the division of food and non-alcoholic beverages, prices of food were higher by 0,6 %, mainly prices of food products n.e.c.rose by 3,5 %, meat by 1,9 % and bread and cereals by 1,2 %. Conversely, compared with December 2019, prices of vegetables were lower by 5,6 %. Prices of mineral waters, soft drinks and juices rose also by 1,1 %. From the alcoholic beverages, prices of wine rose by 4,5 % and a year-on-year growth of prices of tobacco represented 1,1 %.

In the division of housing, water, electricity, gas and other fuels, mostly prices of refuse collection rose by 14,6 %, maintenance and repair of the dwelling, sewage collection equally by 3,8 %, water supply by 2 %.

In the healthcare division, prices of  services of dentists were higher, year-on-year, by 5,9 % and therapeutic appliances by 4,8 %, pharmaceutical products by 3,4 %.

In the division of transport, prices of fuels and lubricants for passenger transport equipment dropped, year-on-yea, by 11,2 % and prices of air passenger transport by 6,1 %.

In the division of recreation and culture, the December´s prices of newspapers, books and stationery were higher, year-on-year, by 5,1 %. Prices of restaurants and hotels rose mainly due to higher prices in restaurants and cafes by 4,9 %.

In the division of miscellaneous good and services, prices of hairdressing and beauty treatment services rose by 7,6 %, social protection by 4,7 %, financial services n.e.c. by 4,1 %.

In December 2020, consumer price index increased, year-on-year, in the households of employees, in households of pensioners and in low-income households equally by 1,6 %.

Development of prices on average in 2020 compared to the same period in 2019

On average in 2020, compared to the same period in 2019, consumer prices in total increased by 1,9 %. On average in 2020, compared to the same period of 2019, the consumer price index increased in households of employees by 1,9 %,  households of pensioners by 2,2 % and in low-income households by 2 %.


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