Slovakia Inflation December 2016


Slovakia: Inflation resurfaced in December

January 13, 2017

In December, consumer prices in Slovakia edged up 0.1% from the previous month, which mirrored the increase observed in November. December’s figure was mainly driven by higher prices for transport, health, recreation and culture, according to the Statistical Office of the Slovak Republic (SOSR).

In annual terms, inflation rose 0.2% in December, which contrasted November’s 0.2% fall and marked the first increase since December 2014. Meanwhile, the harmonized index of consumer prices rose 0.08% in monthly terms in December (November: +0.09% month-on-month). Harmonized consumer prices increased 0.2% annually, which contrasted November’s 0.2% decline. In the 12 months up to December, HICP consumer prices have fallen, on average, 0.5%.

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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