Slovakia: Inflation ticks down in May
June 14, 2018
Consumer prices were flat in May, down from the 0.6% month-on-month increase logged in April. According to data released by the Statistical Office of the Slovak Republic (SOSR), the strongest increases in prices were recorded for clothing and footwear, and furnishings, household equipment and maintenance. Price increases were offset by lower prices for food and non-alcoholic beverages and transport.
Inflation eased from April’s over 5-year high of 2.9% to 2.6% in May. Meanwhile, the harmonized index of consumer prices also came in flat on a month-on-month basis in May, down from April’s 0.6% increase. Harmonized inflation eased from 3.0% in April to 2.7% in May.
Lastly, annual average harmonized inflation edged up to 2.1% in May from 1.9% in April, which represented the highest level in over four and a half years.
Author: Lindsey Ice, Economist