Slovakia: Inflation rises to a two-year high in January
February 11, 2011
In January, consumer prices surged 1.9% over the previous month, which was well above the 0.3% increase recorded in December. Higher transport prices and increasing utility costs were the primary drivers behind the monthly price rise. The increase in consumer prices saw annual headline inflation soar from 1.3% in December to 3.0% in January. Annual average HICP inflation (based on the harmonised index of consumer prices) rose from 0.6% in November to 0.7% in December (the latest month for which data are available). The Central Bank expects annual average HICP inflation to reach 3.9% this year before moderating to 2.6% in 2012.