Slovakia Inflation May 2017

Slovakia

Slovakia: Inflation accelerates in May

June 7, 2017

In May, consumer prices rose 0.2% from the previous month, which followed April’s 0.1% increase. May’s figure was mainly driven by higher prices for food and non-alcoholic beverages and clothing and footwear, according to the Statistical Office of the Slovak Republic (SOSR).

In annual terms, inflation came in at 1.1% in May, which was above April’s 0.8% reading. Meanwhile, the harmonized index of consumer prices increased 0.3% in monthly terms in May (April: +0.1% month-on-month) and 1.1% annually (April: +0.8% year-on-year). In the 12 months up to May, HICP consumer prices have, on average, increased 0.1% (April: 0.0% yoy).

The National Bank of Slovakia (NBS) expects harmonized inflation to be 1.2% in 2017 and to increase to 1.8% in 2018. FocusEconomics Consensus Forecast participants expect harmonized inflation to be 1.1% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel expects HICP inflation to rise to 1.9%.


Author:, Economist

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Slovakia Inflation May 2017

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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