Slovakia Inflation January 2016


Slovakia: Drop in consumer prices eases at the outset of the year

February 15, 2016

In January, consumer prices dropped 0.2% over the previous month, following the 0.3% decline tallied in December. January’s reading reflected lower prices for transport, clothing and footwear, health as well as for housing, water, electricity, gas and other fuels.

Consumer prices fell 0.1% annually in January. The print was above the 0.2% drop tallied in December, which had marked a 10-month low. Meanwhile, the harmonized index of consumer prices declined 0.3% in monthly terms in January (December: -0.04% month-on-month). Annual harmonized consumer prices fell 0.6% in January, which was below December’s 0.5% 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 Chart

Slovakia Inflation January 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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