Slovakia Inflation July 2017

Slovakia

Slovakia: Inflation accelerates to four-year high in July

August 17, 2017

In July, consumer prices rose 0.1% from the previous month, contrasting June’s standstill result. According to the Statistical Office of the Slovak Republic (SOSR), notable positive contributions to consumer prices came from health, hotels, cafes and restaurants, and alcoholic beverages and tobacco. Conversely, the most notable negative contributions came from transport, and clothing and footwear.

Inflation accelerated to 1.4% in July from 1.0% in June, the highest level in four years. Meanwhile, the harmonized index of consumer prices was flat in monthly terms, as it was in June. Harmonized inflation came in at 1.5% in July, a sharp rise from 1.0% in June. Annual average harmonized inflation was 0.5%, which followed the 0.3% recorded in June.

The National Bank of Slovakia (NBS) expects harmonized inflation to be 1.2% in 2017 and to increase to 1.9% in 2018. FocusEconomics Consensus Forecast participants expect harmonized inflation to be 1.3% in 2017, which is unchanged 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 July 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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