Slovakia: Inflation hits an over 5-year high in April
May 14, 2018
Consumer prices increased 0.6% month-on-month in April, up from the 0.2% rise recorded in March. According to data released by the Statistical Office of the Slovak Republic (SOSR), the strongest increases in prices were recorded for transport, clothing and footwear, and alcoholic beverages and tobacco. April’s increase was partially offset by lower prices for recreation and culture.
Inflation came in at an over 5-year high of 2.9% in April, up from 2.4% in March. Meanwhile, the harmonized index of consumer prices rose 0.6% month-on-month in April, up from March’s 0.2% increase. Harmonized inflation accelerated from 2.5% in March to 3.0% in April, an over five-year high.
Lastly, annual average harmonized inflation inched up from 1.7% in March to 1.9% in April, the highest reading since October 2013.
Author: Lindsey Ice, Economist