Stats: Inflation Decelerates to 3.7 percent in October

Bratislava, 13 November (TASR) - Consumer prices of goods and services rose by 0.1 percent month-on-month (m-o-m) on average in October, with year-on-year (y-o-y) inflation decelerating to 3.7 percent, the lowest figure this year, matching the one seen in April, the Statistics Office reported on Thursday, adding the inflation rate fell below the threshold of 4 percent after five months. Prices were higher than a year ago in all 12 monitored sectors, with the growth ranging from 1.4 percent in food and soft beverages up to 8.9 percent in education, and hotels and restaurants. The y-o-y price growth accelerated in three sectors. Prices of the miscellaneous goods and services sector rose by 6.7 percent, while those in the recreation and culture sector increased by 5.4 percent, chiefly due to more expensive holiday trips. Prices of alcoholic beverages and tobacco went up by 6.1 percent, with consumers paying more for spirits, beer and wine. The slowdown in the growth pace of food and soft beverage prices had a significantly positive impact on the development of y-o-y inflation, with the current growth of 1.4 percent being the lowest since June 2024. This can chiefly be ascribed to the zero growth in food prices themselves. Five of the nine food segments recorded lower prices than the year before. Vegetables were 10 percent cheaper than a year ago, showing the price decline continuously since last December. Price decreases were also reported for meat and for the first time this year also for fruits. Monthly growth in consumer prices was seen in nine of the 12 monitored sectors, with the growth ranging from 0.1 percent in housing (including energy) and hotels and restaurants up to 0.7 percent in recreation and culture. Prices declined only in transport, while those in food and soft beverages, and postal services remained unchanged from September. ko