An increase in consumer prices continued to slow down, reaching 1,4 % in August, being the lowest since July 2017.

Year-on-year inflation slowed down for the sixth month, its level decreased by 0,3 p.p.. The rate of price increases reached 1,4 % and was the lowest in the last three years.

This development was mostly influenced by a month-on-month more significant decline in food prices (fruit, vegetables, meat, bread and cereals) and a fall in prices of clothing and footwear and prices of automotive fuels for passenger transport as well. A more significant decrease of year-on-year inflation rate was slowed down by higher prices in transport and also in restaurants, cafés and catering compared to July.

Development of consumer prices in August compared to July 2020

Prices of food and non-alcoholic beverages significantly decreased by 1 % compared to July. A decrease in food prices was influenced by lower fruit prices by 6,5 %; vegetables (including potatoes) by 4,1 %; meat by 0,3 %; bread and cereals by 0,2 %. Prices of milk, cheese and eggs; oils and fats increased equally by 0,2 %; fish by 0,1 %. Prices of non-alcoholic beverages decreased by 1,5 % (prices of mineral waters, non-alcoholic beverages and juices by 2,8 %).

Lower prices of fruit were caused by a decrease in prices of table grapes by 28,4 %, tangerines by 14,2 %, bananas by 8,7 %, red watermelons by 3,1 %. Prices of oranges rose by 8,2 %, apples by 0,4 %. A decrease in vegetable prices was caused by lower prices of pepper by 20,7 %, salad cucumbers by 14,3 %, tomatoes by 11,5 %, potatoes by 3,2 %. Prices of parsley rose by 21,1 %, cauliflower by 11 %. A decrease in meat prices was influenced by lower prices in prices of pork meat by 2,1 %, beef meat by 1 %. Prices of sausages rose by 0,2 %, poultry by 0,1 %.

 A decrease in prices in the division of alcoholic beverages and tobacco was influenced by lower prices of alcoholic beverages by 0,2 % (beer prices decreased the most by 2,2 %). Prices of tobacco rose by 0,3 %.

 A decrease in prices in the division of clothing and footwear was influenced lower prices of footwear by 1 %; prices of clothing remained unchanged.

An increase in prices in the division of housing, water, electricity, gas and other fuels was caused by higher prices of sewage collection by 1,9 %; water supply by 1,6 %; services for maintenance and repair of the dwelling by 0,3 %; imputed rentals of owner-occupiers; materials for the maintenance and repair of the dwelling equally by 0,1 %.

Higher prices in the division of health care were influenced by an increase in prices of medical products, medical appliances and equipment by 0,1 %. Prices of outpatient services decreased by 0,1 % (services of paramedical staff – thermal bath by 0,7 %).

Higher prices in transport were caused by an increase in prices of transport services by 3,7 % (air passenger transport by 34 %, road passenger transport by 0,6 %). Prices of operation of personal transport equipment decreased by 0,6 % (prices of fuels and lubricants for passenger transport equipment dropped by 0,9 %, spare parts and accessories by 0,3 %, mainly prices of maintenance and repairs increased by 0,4 %, purchase of transport equipment by 0,1 % (prices of second hand motor vehicles decreased by 1 %, prices of new motor vehicles increased by 0,3 %).

Prices remained unchanged in the division of recreation and culture, as for the individual sectors, prices of other recreational items and equipment for gardens and pets increased by 0,8 %; package holidays by 0,6 %; recreational services and culture by 0,2 %. Prices of audiovisual and photographic technology decreased by 0,5 %; newspapers, books and stationery by 0,3 %.

In the division of education, prices of pre-primary, primary; secondary; tertiary education remained at the level of the previous month. Prices of education indefinable by level increased by 0,2 % (language course fee by 0,5 %).

A rise in prices in the division of restaurants and hotels was influenced by higher prices of catering services by 0,3 % (payments for meals in canteens for pensioners by 0,6 %, in restaurants, in cafés by 0,4 %, in canteens by 0,1%); accommodation services by 0,1 %.

An increase in prices in the division of miscellaneous goods and services was influenced by higher prices of personal care; personal effects not elsewhere classified by 0,4 %; social protection (fee in private nursery by 0,5 %, payment for the provision of care services by 0,3 %); other services n.e.c. by 0,2 %. Insurance prices decreased by 2,8 % (motor car insurance by 4,2 %).

In August, compared to July, the consumer price index decreased in households of employees and in low-income households by 0,1 %, in households of pensioners by 0,2 %.

Price development in August 2020 compared to August 2019

In a year-on-year comparison, prices in the division of miscellaneous goods and services increased by 4,6 %; education by 4,5 %; healthcare by 3,5 %; housing, water, electricity, gas and other fuels by 2,8 %; restaurants and hotels by 2,3 %; furniture, furnishings and routine household maintenance by 1,6 %; recreation and culture by 1,2 %; food and non-alcoholic beverages by 1%; clothing and footwear by 0,6 %; alcoholic beverages and tobacco by 0,3 %. Prices in transport fell by 5 %. Prices of communication did not changed.

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

In August 2020, the consumer price index increased in households of employees by 1,4 %, in households of pensioners by 1,7 % and in low-income households by 1,6 % year-on-year.

On average over the eight months of 2020, compared to the same period of 2019, the consumer price index increased in households of employees by 2,1 %, in households of pensioners by 2,4 % and in low-income households by 2,3 %.