Slovakia Inflation


Slovakia: Consumer prices drop in October for first time in seven months

November 16, 2015

In October, consumer prices rose 0.1% over the previous month, contrasting the 0.3% drop tallied in September and thereby marking a four-month high. October’s reading mainly reflected high prices for clothing and footwear.

Consumer prices dropped 0.1% annually in October. The print was below the flat reading tallied in September and marked the first drop in prices in seven months. Meanwhile, the harmonized index of consumer prices rose 0.1% in monthly terms in October (September: -0.2% month-on-month). Annual harmonized consumer prices fell 0.5% in October, which was in line with September’s drop.

The National Bank of Slovakia (NBS) expects harmonized consumer prices to fall 0.3% on average in 2015, before rebounding to a 1.0% increase in 2016. FocusEconomics Consensus Forecast participants expect harmonized consumer prices to fall 0.2% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel expects HICP inflation to be 1.0%, which is also down 0.1 percentage points from last month’s estimate.

Author: Ricard Torné, Lead Economist

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Slovakia Inflation Chart

Slovakia Inflation October 2015

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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