Slovakia Inflation


Slovakia: Consumer prices record second consecutive year-on-year drop in March

April 17, 2015

In March, consumer prices grew 0.1% over the previous month, rebounding from the 0.2% drop tallied in February and marking a five-month high. March’s reading mainly reflected higher prices for transport, as well as for furnishings, household equipment and routine household maintenance as well as food and non-alcoholic beverages.

Consumer prices declined 0.1% in March compared to the same month of last year, inching up from the 0.3% decrease registered in February, which had marked an over-five-year low. Meanwhile, the harmonized index of consumer prices fell 0.18% in monthly terms in February, which is the last month of which data are available. The reading was slightly down from January’s 0.12% fall. Annual harmonized consumer prices fell 0.6%, which followed the 0.5% decrease tallied in the previous month.

The National Bank of Slovakia (NBS) expects inflation to average minus 0.3% in 2015 and plus 1.7% in 2016. FocusEconomics Consensus Forecast participants expect HICP inflation to average 0.2% in 2015, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel expects HICP inflation to increase to 1.6%.

Author:, Economist

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Slovakia Inflation Chart

Slovakia Inflation March 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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