Slovakia: Inflation moderates in February
March 14, 2018
Consumer prices increased 0.2% month-on-month in February, following January’s much stronger 0.8% increase. According to data released by the Statistical Office of the Slovak Republic (SOSR), the strongest increases in prices were recorded for transport and furnishings, household equipment and routine household maintenance. On the other hand, prices for clothing and footwear and non-alcoholic beverages decreased.
Inflation came in at 2.1% in February, down from the five-year high of 2.4% recorded in January. Meanwhile, the harmonized index of consumer prices rose 0.2% month-on-month in February, following a 0.9% jump in January. Harmonized inflation decelerated from 2.6% in January—the highest reading in over five years—to 2.2% in February.
Lastly, annual average harmonized inflation went up slightly, from 1.5% in January to 1.6% in February, the highest reading since November 2013.
Slovakia Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 2.1% in 2018, which is unchanged from last month’s estimate, and 2.2% in 2019.