Higher Excise Taxes will Contribute to Inflation Growth in August
8. augusta 2003

According to the National Bank of Slovakia’s (NBS) estimates, the higher excise taxes on tobacco and tobacco products, beer, and motor fuel introduced this month will be the determining factor that will influence the price level in August. Another important factor should be the development of food prices, since seasonal drop of prices of fruit and vegetables is expected to continue, while prices of pork, poultry and eggs are anticipated to rise, Igor Barat, the NBS spokesman, informed SITA.

July consumer prices in Slovakia have not changed, though they grew 0.4 percent over June. The year-on-year headline inflation rate reached 8.7 percent, the Slovak Statistics Office reported on Thursday. Over the January-July period, consumer prices surged 7.9 percent y/y.

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