Slovakia Inflation


Slovakia: Inflation picks up slightly in May

June 16, 2014

In May, the consumer price index rose 0.2% over the previous month, which was up from April’s flat reading and marked the highest monthly increase since the beginning of this year. Prices in 5 of the 12 categories that make up the index rose in May. The largest increases were registered in prices for food and non-alcoholic beverages as well as in transport prices. The steepest decline was seen in prices for the regular mail and for telecommunications.

Consumer prices recorded a 0.2% rise over the same month last year in May, which exceeded the flat reading tallied in April. Meanwhile, annual HICP prices—based on the harmonized index of consumer prices—increased from April’s 0.2% drop to a flat reading. Annual average HICP inflation inched down from 0.7% in April to 0.6% in May, the lowest rate since October 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 0.6% 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 1.8%.

Author: Teresa Kersting, Economist

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Slovakia Inflation Chart

Slovakia Inflation May 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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