Slovakia Inflation


Slovakia: Consumer prices flat in November

December 16, 2015

In November, consumer prices were flat over the previous month, following the 0.1% increase tallied in October. November’s reading mainly reflected that higher prices for clothing and footwear as well as for hotels, cafes and restaurants were compensated by lower costs for food and non-alcoholic beverages along with alcoholic beverages and tobacco.

Consumer prices recorded zero growth in November, which was above the 0.1% drop in October. Meanwhile, the harmonized index of consumer prices was flat in monthly terms in November (October: +0.1% month-on-month). Annual harmonized consumer prices fell 0.4% in November, which was above October’s 0.5% decline.

The National Bank of Slovakia (NBS) expects harmonized inflation to be 0.7% on average in 2016, before accelerating to 1.7% in 2017. FocusEconomics Consensus Forecast participants expect harmonized inflation to be 0.9% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects HICP inflation to rise to 1.9%.

Author: Ricard Torné, Lead Economist

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Slovakia Inflation Chart

Slovakia Inflation November 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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