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Slovak inflation near 4-year low: official data

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(Globalpost/GlobalPost)

Inflation in eurozone member Slovakia tumbled to near a 4-year low of 0.5 percent in November from 0.6 percent in October, official data showed Thursday.

It is the sixth monthly decline in a row, mirroring the situation elsewhere in the eurozone where inflation stayed low at 0.9 percent in November.

"The eurozone is not facing any strong deflationary pressures and the European Central Bank does not see deflation ahead," ECB governing council member Jozef Makuch said earlier this week.

On a monthly comparison, prices fell by 0.1 percent in November after zero growth between September and October.

Lower food and fuel prices contributed to the disinflation, the statisticians added.

Bratislava last registered a 0.4-percent rate of inflation in February 2010.

It has forecast inflation at 1.6 percent in 2013, well below the 3.6 percent rate in 2012 and 3.9 percent in 2011.

Large, foreign-owned export-orientated auto and electronics sectors underpin the economy of this country of 5.4 million people, which joined the eurozone in 2009.

The finance ministry has forecast 0.8-percent growth for this year, after two percent in 2012.

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http://www.globalpost.com/dispatch/news/afp/131212/slovak-inflation-near-4-year-low-official-data