Slovakia Inflation February 2016

Slovakia

Slovakia: Consumer prices expand at fastest pace in 8 months in February

March 14, 2016

In February, consumer prices rose 0.1% over the previous month, contrasting the 0.2% decline tallied in January. February’s reading reflected higher prices for food and non-alcoholic beverages, alcoholic beverages and tobacco, furnishings and household equipment, as well as for health.

Consumer prices rose 0.2% annually in February. The print contrasted the 0.1% decline in January and marked an eight-month high. Meanwhile, the harmonized index of consumer prices rose 0.1% in monthly terms in February (January: -0.3% month-on-month). Annual harmonized consumer prices fell 0.3% in February, which was above January’s 0.6% 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 0.6% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, the panel expects HICP inflation to rise to 1.7%.


Author: Ricard Torné, Lead Economist

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Slovakia Inflation February 2016

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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