Slovakia: Inflation rises to 5-year high in January
February 23, 2018
Consumer prices jumped 0.9% month-on-month in January, following December’s flat result. According to data released by the Statistical Office of the Slovak Republic (SOSR), the strongest increases in prices were recorded for food and non-alcoholic beverages, transport and alcoholic beverages and tobacco. On the other hand, prices for clothing and footwear decreased.
Inflation came in at 2.4% in January, up from 1.9% in December and the highest reading since January 2013. Meanwhile, the harmonized index of consumer prices jumped 0.9% month-on-month in January, following a flat reading in December. Harmonized inflation accelerated from 2.0% in December to 2.6% in January, also the highest reading in over five years.
Lastly, annual average harmonized inflation went up slightly, from 1.4% in December to 1.5% in January, the highest reading since November 2013.
Slovakia Inflation Forecast
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.