Slovakia Inflation July 2016

Slovakia

Slovakia: Consumer prices register record annual fall in July

August 18, 2016

In July, consumer prices plunged 0.4% over the previous month, which contrasted the 0.1% rise tallied in June. July’s figure was mainly driven by lower prices for gasoline and food.

In annual terms, consumer prices declined a record 0.9% in July, which followed June’s 0.8% fall. Meanwhile, the harmonized index of consumer prices decreased 0.4% month-on-month in July (June: +0.1% month-on-month). Harmonized consumer prices fell 0.9% annually in July, which was also a record drop and below June’s 0.7% 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 down 0.1 percentage points from last month’s forecast. For 2017, the panel expects HICP inflation to come in at 1.5%.


Author:, Economist

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Slovakia Inflation July 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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