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Harmonized indices of consumer prices in April 2020

Harmonized indices of consumer prices in April 2020

Last update: 20.05.2020
ilustratívny obrázok/illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 20.05.2020

In April 2020, the annual inflation rate measured by the harmonized index of consumer prices reached 2.1%.

The calculation of the consumer price index in April was fundamentally affected by the situation associated with the Corona crisis. The traditional field price survey was influenced by the closure of stores and service operations and the cessation of field surveys. Uncollected prices were replaced by prices from other sources, e.g. websites, telephone and e-mail inquiries, or scanner data (food, alcoholic beverages) retail chains were used. A part of the uncollected prices was resolved by imputing – kindly find more in the Methodological note HERE.

The average annual inflation rate (expressed as the change in the average harmonized index of consumer prices over the last 12 months compared with the average of the previous 12 months) was 2.9 % in April 2020.

The month-on-month harmonized index of consumer prices of 99.9% was most affected by lower prices in the division Transport (negative contribution -0.29 percentage points); of which the development of fuel prices was responsible for the decline by -0.27 pp. The decrease in prices in the division Alcoholic beverages and tobacco is responsible for the negative contribution of -0.04 pp, caused mainly by a decrease in prices of spirits (contribution -0.03 pp).

The highest positive contribution in the index was recorded in the division Food and non-alcoholic beverages - 0.14 pp, of which increase of food made up 0.15 pp (increase in prices of vegetables 0.10 pp, fruits 0,03 pp and bread and cereals 0.03 pp) and decrease of non-alcoholic beverages: -0.01 pp.

In the division of Clothing and footwear, there is a seasonal character, which was taken into account when choosing the method of imputation of uncollected prices, while the total contribution to the aggregate index was 0.07 pp.
The contributions of other divisions reached from -0.02 pp to 0.03 pp.

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