Slovakia Inflation

Slovakia

Slovakia: Inflation inches up in May

June 17, 2015

In May, consumer prices grew 0.3% over the previous month, inching up from the 0.2% increase tallied in April and marking the highest value since January 2013. May’s reading mainly reflected higher prices for food and non-alcoholic beverages as well as for transport.

Inflation edged up from 0.2% in April to 0.3% in May and marked a six-month high. Meanwhile, the harmonized index of consumer prices grew 0.3% in monthly terms in May (April: +0.3% month-on-month), the highest value in over two years. Annual harmonized consumer prices fell 0.1%, which matched the result tallied in the previous month.

The National Bank of Slovakia (NBS) expects inflation to average minus 0.3% in 2015 and plus 1.7% in 2016. FocusEconomics Consensus Forecast participants expect HICP inflation to average 0.2% in 2015, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel expects HICP inflation to increase to 1.6%.


Author: Ricard Torné, Lead Economist

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Slovakia Inflation May 2015 0

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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