Slovakia Inflation August 2016

Slovakia

Slovakia: Consumer prices register record annual fall in August

September 14, 2016

In August, consumer prices fell 0.1% over the previous month, which followed the 0.4% drop registered in July. August’s figure was mainly driven by lower prices for food and transport, according to the Statistical Office of the Slovak Republic (SOSR).

In annual terms, consumer prices declined 0.8% in August, which followed July’s record 0.9% fall. Meanwhile, the harmonized index of consumer prices decreased 0.1% month-on-month in August (July: -0.4% month-on-month). Harmonized consumer prices fell 0.8% annually, following July’s 0.9% decline.

The National Bank of Slovakia (NBS) expects harmonized consumer prices to fall 0.3% in 2016 and to increase 1.2% in 2017. FocusEconomics Consensus Forecast participants expect harmonized consumer prices to decline 0.1% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects HICP inflation to come in at 1.4%.


Author:, Economist

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Slovakia Inflation August 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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