Slovakia Inflation March 2016


Slovakia: Consumer prices drop in March

April 14, 2016

In March, consumer prices were flat over the previous month, following the 0.1% rise tallied in February. March’s reading mainly reflected that higher prices for transport, recreation and culture as well as for hotels, cafes and restaurants were offset by lower costs for alcoholic beverages and tobacco as well as for furnishings and household equipment.

Consumer prices fell 0.5% annually in March. The print was below the 0.4% decline in February. Meanwhile, the harmonized index of consumer prices was flat in monthly terms in March (February: +0.1% month-on-month). Annual harmonized consumer prices fell 0.5% in March, which was below February’s 0.3% decline.

The National Bank of Slovakia (NBS) expects harmonized inflation to be 0.4% on average in 2016, before accelerating to 1.8% in 2017. FocusEconomics Consensus Forecast participants expect harmonized inflation to be 0.2% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel expects HICP inflation to rise to 1.6%.

Author: Ricard Torné, Lead Economist

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Slovakia Inflation Chart

Slovakia Inflation March 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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