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Slovakia Inflation November 2023

Slovakia: Harmonized inflation falls to near two-year low in November

Harmonized inflation fell to 6.9% in November, following October’s 7.8%. November’s reading represented the lowest inflation rate since December 2021, though still coming in well above the Euro area average of 2.4%. The slowdown was largely due to slower price growth for food and non-alcoholic beverages. In addition, price pressures for transportation declined at a quicker rate, and the increase in prices for housing and utilities was more subdued.

Therefore, the trend pointed down, with annual average harmonized inflation coming in at 11.8% in November (October: 12.5%). Meanwhile, consumer price inflation fell to 6.2% in November, from October’s 7.1%.

Lastly, harmonized consumer prices rose 0.18% in November over the previous month, broadly stable from the 0.19% rise seen in October. November’s result marked the softest increase in prices since August.

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