Slovakia Inflation November 2017

Slovakia

Slovakia: Inflation reaches an over four-year high in November

December 18, 2017

Consumer prices rose 0.3% month-on-month in November, matching October’s reading. According to data released by the Statistical Office of the Slovak Republic (SOSR), the increase was driven by higher prices nearly across-the-board, with the largest increases in prices for transport, and food and non-alcoholic beverages. The price increases more than offset lower prices for alcoholic beverages and tobacco.

Inflation inched up from 1.7% in October to 1.9% in November, an over four-year high. Meanwhile, the harmonized index of consumer prices rose 0.3% on a month-on-month basis in November, matching October’s reading. Harmonized inflation accelerated from 1.8% in October to 2.1% in November, the highest print since February 2013. Lastly, annual average harmonized inflation went up marginally in November to 1.2%, from 1.1% the previous month.

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.


Author: Massimo Bassetti, Economist

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Slovakia Inflation November 2017 1

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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