Slovakia Inflation February 2017

Slovakia

Slovakia: Inflation reached highest reading in February since August 2013

March 14, 2017

In February, consumer prices increased 0.5% from the previous month, which followed January’s 0.1% increase and marked the highest print since January 2013. February’s figure was mainly driven by higher prices for transport, health and recreation and culture, according to the Statistical Office of the Slovak Republic (SOSR).

In annual terms, inflation jumped to 1.2% in February from January’s 0.7% reading and was the highest result in over three years. Meanwhile, the harmonized index of consumer prices rose 0.5% in monthly terms in February (January: +0.3% month-on-month). Harmonized consumer prices increased 1.3% annually February (January: +0.9% mom). In the 12 months up to February, HICP consumer prices have fallen, on average, 0.2% (January: -0.4% year-on-year).

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 February 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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