Inflation in Slovakia
Harmonized consumer price inflation averaged 2.4% in the ten years to 2022. The 2022 average figure was 12.1%. For more inflation information, visit our dedicated page.
Slovakia Inflation Chart
Slovakia Inflation Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Inflation (HICP, ann. var. %, aop) | 2.5 | 2.8 | 2.0 | 2.8 | 12.1 |
Inflation (CPI, ann. var. %, eop) | 1.9 | 3.0 | 1.6 | 5.8 | 15.4 |
Inflation (HICP, ann. var. %, eop) | 1.9 | 3.2 | 1.6 | 5.1 | 15.0 |
Inflation (PPI, ann. var. %, aop) | 2.6 | 1.9 | -0.4 | 6.8 | 29.3 |
Harmonized inflation declines to two-year low in December
Harmonized inflation fell to 6.6% in December, down from November’s 6.9%. December's result represented the lowest inflation rate since December 2021. That said, it remained well above the Euro area average of 2.9%. Looking at the details of the release, the slowdown was largely due to softer price growth for food and non-alcoholic beverages, and housing and utilities. That said, prices for transport grew at a sharp pace, after decreasing in November. The trend pointed down, with annual average harmonized inflation coming in at 11.1% in December (November: 11.8%). Meanwhile, consumer price inflation fell to 5.9% in December, from November’s 6.2%. Lastly, harmonized consumer prices fell 0.13% from the previous month in December, contrasting November's 0.18% rise. December's result marked the weakest reading since July.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Slovak inflation projections for the next ten years from a panel of 16 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Slovak inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Slovak inflation projections.
Want to get access to the full dataset of Slovak inflation forecasts? Send an email to info@focus-economics.com.
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