Slovakia Inflation May 2016


Decline in consumer prices accelerates in May

In May, consumer prices were flat following the 0.3% increase registered in April. May’s figure was mainly caused by lower prices for food and non-alcoholic beverages offsetting price increases in the transport and clothing and footwear product categories.

Consumer prices fell 0.8% annually in May. The print was below the 0.4% decline recorded in April. Meanwhile, the harmonized index of consumer prices fell 0.1% in monthly terms in May (April: +0.4% month-on-month). Annual harmonized consumer prices fell 0.7% in May, which was below April’s 0.4% decline.

The National Bank of Slovakia (NBS) expects harmonized consumer prices to fall 0.2% in 2016 and to increase 1.3% in 2017. FocusEconomics Consensus Forecast participants expect harmonized inflation to be flat in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel expects HICP inflation to rise to 1.5%.

Author:, Economist

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Slovakia Inflation Chart

Slovakia Inflation May 2016 0

Note: Month-on-month and year-on-year variation of consumer prices in %.
Source: Statistical Office of the Slovak Republic (SOSR)

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