Slovakia Inflation Rises To 1-Year High

(RTTNews) - Slovakia's consumer price inflation accelerated in January to the highest level in one year, figures from the Statistical Office of the Slovak Republic showed on Monday.

Consumer prices rose 3.9 percent annually in January, faster than the 2.9 percent rise in December. Further, a similar rate of inflation was last seen in January last year.

The annual price growth in transportation quickened to 5.6 percent in January from 3.5 percent in the prior month. Similarly, housing and utility costs rose at a faster pace of 2.5 percent, and prices for food and non-alcoholic beverages also grew the same 2.5 percent.

The overall result was significantly affected by changes in VAT rates or a new tax on sweetened soft drinks, the agency said.

On a monthly basis, consumer prices climbed 1.7 percent in January, reversing a 0.4 percent decrease in the preceding month.