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Inflation – consumer price indices in January 2022
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Inflation – consumer price indices in January 2022

Last update: 24.02.2022
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 14.02.2022

Consumer prices in January 2022 compared to January 2021 increased by 8,4% in total, compared to December 2021 they rose by 2,7%

The sharp rise in consumer prices was caused mainly by an increase in regulated prices in the network industries, food and non-alcoholic beverages, imputed rent for housing, alcoholic beverages, transport services, outpatient services, insurance.

Development of consumer prices in January 2022 compared to December 2021

Month-on-month, prices increased in all divisions, only for clothing and footwear prices dropped. Prices in the division of housing, water, electricity, gas and other fuels increased the most by 6,1% due to an increase in regulated energy prices; food and non-alcoholic beverages by 3,3%; alcoholic beverages and tobacco by 1,7%; transport by 1,4%; restaurants and hotels by 1,2%; furnishing, household maintenance and routine household maintenance by 1,1%; miscellaneous goods and services by 0,9%; recreation and culture by 0,8%; health care by 0,7%; communications; education equally by 0,1%. Only prices of clothing and footwear decreased by 1,2%.

Illustrative image - graph

The price increase in the division of housing, water, electricity, gas and other fuels was caused by higher gas prices by 19,4%; electricity by 11,7%; thermal energy by 11,3%; housing maintenance and repair services by 4,4%; imputed rent of owner-occupiers by 2%; materials for the maintenance and repair of the dwelling; garbage collection equally by 1,4%; solid fuels by 1,1%; other services related to the dwellings by 0,6%; sewerage by 0,3%; water supply by 0,1%. The prices of actual rent paid by tenants decreased by 0,3%.

The rise in food prices by 2,9% was influenced by higher prices in all 9 classes, oils and fats by 6,3% (butter, margarine, edible oils), fruit by 6,2%, vegetables (including potatoes) by 5,4% , sugar, jam, honey, syrups, chocolate and confectionery by 4,7%, milk, cheese and eggs by 3,2% (milk, all dairy products, cheese, eggs), food products n.e.c. by 3%, bread and cereals by 1,6%, meat by 1,1%, fish by 0,9%. Prices of non-alcoholic beverages increased by 6,7% (mineral waters, non-alcoholic beverages and juices by 8,2%, coffee, tea and cocoa by 4,7%).

The increase in prices in the division of alcoholic beverages and tobacco was influenced by an increase in prices of alcoholic beverages by 3,1% (beer by 4,5%, spirits by 2,6%, wine by 2%).

Higher prices in transport were influenced by an increase in prices of passenger transport by 1,4% (maintenance and repairs equally by 2,4%, spare parts and accessories by 1,6%, fuels and lubricants for personal transport equipment by 1,2%) ; transport services by 3,6%; purchase of transport equipment by 0,1% (bikes by 0,8%).

The price increase in restaurants and hotels was caused by higher prices of accommodation services by 1,3%; catering services by 1,2% (in restaurants and cafes by 1,7%, in canteens, payments for meals in canteens for pensioners equally by 0,2%).

The price rise in furnishing, household maintenance and routine household maintenance was influenced by higher prices of goods and services for routine household maintenance by 1,7%; glassware, tableware and household utensils by 1,5%; household appliances by 0,9%; furnishing, household equipment, carpets and other floor coverings; household textiles equally by 0,8%; tools and equipment for the house and garden by 0,6%.

The price rise in miscellaneous goods and services was influenced by higher insurance prices by 3,3% (transport insurance by 4,6%); personal care by 1%; other services n.e.c. 0,5%; personal effects n.e.c.; social protection by 0,4% ( payment in social service facilities by 1,6%, payment in social service facilities by 0,6%,  payment for personal care, payment in day nursery equally by 0,1%).

Higher prices in recreation and culture were influenced by an increase in prices of package holiday tours by 1,1%; audiovisual and photographic equipment; recreational services and culture equally by 0,9%; newspapers, books and stationery by 0,8%; other major durables for recreation and culture; other recreational items and equipment for garden and pets equally by 0,2%.

Higher prices in health care were influenced by an increase in prices of medical services by 2%, dental services by 1,8%, services of middle medical staff services –thermal bath by 1,3%, hospital services by 0,7%, therapeutic appliances and equipment by 0,5%, pharmaceutical products, other medical products equally by 0,4%.

The increase in prices in education was influenced by higher prices of education non definable by level by 0,6% (fee in primary art school - music course, fee for language course equally by 0,7%).

Higher prices in communications were caused by higher prices of telephone equipment by 0,7% and telephone services by 0,1%.

The price drop in clothing and footwear was influenced by lower prices of footwear by 2,2%; clothing by 0,8%.

Compared to December, in January the consumer price index increased in households of employees by 2,6%, in households of pensioners by 3,3%, in low-income households by 2,8%.

Development of consumer prices in January 2022 compared to January 2021

In a year-on-year comparison, prices in the division of restaurants and hotels increased by 14,3%; housing, water, electricity, gas and other fuels by 12,6%; transport by 11,5%, alcoholic beverages and tobacco by 9,3%, food and non-alcoholic beverages by 8,1%, furniture, furnishings and routine household maintenance by 6,1%, recreation and culture by 5,2%; education by 4,9%; miscellaneous goods and services by 4,1%; health care by 1,5%, clothing and footwear by 1,2%. Prices for communications decreased by 0,4%.

The increase in prices in the division of restaurants and hotels was influenced by higher prices of catering services by 15,2% (in canteens by 33,6%, in restaurants, in cafés by 8,1%), accommodation services by 3,8%.

In the division of housing, water, electricity, gas and other fuels, prices of gas increased by 19,6%, imputed rentals of owner-occupiers by 14,7%, heat energy by 11,8%, electricity by 11,7%, maintenance and repair of dwellings by 14%, solid fuels by 9,2%, other services related to dwelling by 4,6%, refuse collection by 3,8%, wastewater by 2%, water supply by 1.1%.

In transport, prices of fuels and lubricants for personal transport equipment increased by 23,2%, spare parts and accessories by 6,1%, maintenance and repairs by 4,9%, purchase of bicycles by 9,7%, other services related to personal transport equipment by 4,8%, transport services by 5,2%, prices of purchase of motor vehicles decreased by 0,1%.

In the division of alcoholic beverages and tobacco, prices of alcoholic beverages increased by 3,5% (prices of spirits increased by 5,4%, wines by 2,6%, beers by 2,2%).

In food, prices of oils and fats increased by 24,6%, vegetables by 15,3%, milk, cheese and eggs by 9,4%, bread and cereals by 9,1%, food products n.e.c.by 8,3%, fish by 6.8%, fruit by 6,7%, meat by 4,3%. Prices of mineral waters, soft drinks and juices increased by 4,7%, coffee, tea and cocoa by 3,6%.

In  the division of furniture, household equipment and routine household maintenance, prices of furniture, household equipment, carpets and other floor coverings rose by 10,4%, glassware, tableware and household utensils by 5,7%, household textiles by 4,8%, household appliances by 4,3%, tools and equipment for the house and garden by 4,8%, goods and services for routine household maintenance by 3,8%.

In the division of recreation and culture, prices of newspapers, books and stationery increased by 5,9%, audiovisual and photographic technology by 5,5%, other recreational items, gardens and pets by 4,8%, recreational and cultural services by 4,6%, package holidays by 4,4%.

In miscellaneous goods and services, prices of personal care increased by 5,2%, personal effects n.e.c. by 4,6%, social protection by 3,2%, insurance by 2,9%.

In health care, prices of services of secondary medical staff - spa treatment rose by 7,8%, other medical products by 6,5%, dental services by 5,1%, medical services by 3,4%, therapeutic appliances and equipment by 2,7%, hospital services by 1,3%, pharmaceutical products by 0,5%.

In the division of clothing and footwear, prices of clothing increased by 2,1% and prices of footwear decreased by 0,7%.

In communications, prices of telephone services decreased by 0,5%, prices of telephone equipment increased by 1,7%.

In January 2022, the consumer price index increased year-on-year for households of employees, for low-income households equally by 8,3%, for households of pensioners by 9,1%.

Development of core and net inflation in January 2022 compared to January 2021

In January 2022, the year-on-year inflation rate reached 8.4%. Core inflation was 7,1% and net inflation was 6,8%.

In January, compared to December, the total inflation was affected by core inflation by 1,37 percentage points (p.p.), regulated prices by 1,36 p.p. and indirect taxes did not affect the total inflation. Core inflation was affected by food prices by 0,55 p.p. and net inflation by 0,82 p. p..

Outputs of the Inflation product line:

First release - Development of consumer price indices (national inflation / CPI) always around the 13th to 15th day of the following month after the end of the reference period.

Current: Development of consumer price indices in January 2022 (reference period January 2022) today 14 February in the form of tables in DATAcube. databases and a text of the Informative report stored in the Catalogue of informative reports.

First release - Harmonised Indices of Consumer Prices (HICP) for the EU, usually a few days after national CPI inflation. The HICP has a uniform methodology in the EU to ensure the comparability of consumer price indices of individual countries. Baskets for the CPI and the HICP differ in part; the HICP, unlike the CPI, does not include the components "Imputed rents"; and selected items related to major household repairs and maintenance, resulting in some differences in the CPI and HICP weights.

Current: The information report Harmonised indices of consumer prices in January 2022 will be published on 23 February 2022 and stored in the Catalogue of informative reports. The press report of Eurostat Inflation in the eurozone will be released on same day.

Electronic publication Consumer price indices in the SR was cancelled. All more detailed data on the topic inflation will be available in the DATAcube. database on 25th February 2022 in part 2. Macroeconomic statistics / 2.3 Consumer prices and prices of production statistics. As for the consumer prices, data such as inflation by social groups of the population (for households of employees, pensioners, low-income households) are already available in time series.

Responsible person: Director of the Price Statistics Department Ing. Štefan Adamec

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