Slovakia Inflation March 2017

Slovakia

Slovakia: Inflation moderates slightly in March

April 12, 2017

In March, consumer prices dropped 0.1% from the previous month, which contrasted February’s 0.5% increase and marked the lowest print in seven months. March’s figure was mainly driven by lower prices for food and non-alcoholic beverages, health and transport, according to the Statistical Office of the Slovak Republic (SOSR).

In annual terms, inflation edged down from 1.1% in February—which had been the highest reading in over three years—to 1.0% in March. Meanwhile, the harmonized index of consumer prices fell 0.1% in monthly terms in March (February: +0.5% month-on-month). Harmonized consumer prices increased 1.0% annually March (February: +1.2% year-on-year). In the 12 months up to March, HICP consumer prices have fallen, on average, 0.1% (February: -0.2% yoy).

The National Bank of Slovakia (NBS) expects harmonized inflation to be 1.2% in 2017 and to increase to 1.8% in 2018. FocusEconomics Consensus Forecast participants expect harmonized inflation to be 1.1% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel expects HICP inflation to rise to 1.9%.


Author:, Economist

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Slovakia Inflation March 2017

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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