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Slovakia Inflation May 2023

Slovakia: Harmonized inflation declines to lowest level since May 2022 in May

Harmonized inflation dropped to 12.3% in May, following April’s 14.0%. May’s reading marked the lowest inflation rate since May 2022. The reading was primarily driven by slower growth in prices for food and non-alcoholic beverages. In addition, price pressures for transportation dropped at a quicker pace.

The trend pointed up slightly, with annual average harmonized inflation coming in at 14.1% in May (April: 14.0%). Meanwhile, consumer price inflation fell to 11.9% in May, from April’s 13.8%.

Lastly, harmonized consumer prices fell 0.06% in May over the previous month, swinging from the 0.61% increase seen in April. May’s result marked the weakest reading since August 2020.

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