Slovakia Inflation


Slovakia: Inflation inches down in December

January 14, 2015

In December, consumer prices fell 0.3% over the previous month, which came in below the 0.1% decline tallied in November and marked the strongest drop since September 2006. December’s reading mainly reflected lower prices for transport, driven by low global oil prices. Prices for clothing and footwear, as well as for food and non-alcoholic beverages, also declined over the previous month. Conversely, household equipment recorded higher prices than in November.

Inflation inched down from November’s 0.3% to 0.2% in December. Meanwhile, the harmonized index of consumer prices fell 0.28% in December compared to the previous month, which was down from the 0.17% decline tallied in November. Annual average HICP fell 0.1% in December (November: -0.1% year-on-year).

The National Bank of Slovakia (NBS) expects inflation to average 0.5% in 2015 and 1.8% in 2016. FocusEconomics Consensus Forecast participants expect HICP inflation to average 0.7% in 2015, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel expects HICP inflation to increase to 1.8%.

Author:, Economist

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Slovakia Inflation Chart

Slovakia Inflation December 2014

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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