Slovakia Inflation (HICP, ann. var. %, eop)

Harmonized inflation inches up in January

Harmonized inflation came in at 15.1% in January, which was up from December’s 15.0%. January’s reading was the highest inflation rate since November 2022. Looking at the details of the release, higher price pressures for recreation and restaurants and hotels more than offset lower prices pressures for food, housing and transport.

Annual average harmonized inflation rose to 12.7% in January (December: 12.1%). Meanwhile, consumer price inflation edged down to 15.2% in January, from the previous month’s 15.4%.

Finally, harmonized consumer prices rose 2.85% from the previous month in January, accelerating from the 0.14% increase recorded in December. January’s uptick led to the highest reading since January 2004.