Slovakia Inflation


Slovakia: Inflation inches down in June

July 17, 2014

In June, the consumer price index rose 0.1% over the previous month, which was slightly down from May’s 0.2% increase. Prices in 5 of the 12 categories that make up the index rose in June. The reading reflects that higher prices for clothing and footwear, transport and education more than compensated for lower prices for recreation and culture and for food and non-alcoholic beverages.

Consumer prices recorded a 0.1% increase over the same month last year in June, which came in below the 0.2% rise recorded in May. Meanwhile, the harmonized index of consumer prices decreased marginally from May’s flat reading to a 0.1% drop in June. Annual average HICP inflation declined from 0.6% in May to 0.4% in June, the lowest rate since August 2010.

The Central Bank expects HICP inflation to average 0.2% in 2014 and 1.9% in 2015. FocusEconomics Consensus Forecast participants expect HICP inflation to average 0.4% this year, which is down 0.2 percentage points compared to last month’s forecast. In 2015, the panel expects HICP inflation to increase to 1.6%.

Author: Teresa Kersting, Economist

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Slovakia Inflation Chart

Slovakia Inflation June 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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