Slovakia: Inflation flattens in January reaching record low
February 24, 2014
In January, consumer prices rose 0.2% over the previous month, which contrasted the 0.1% fall tallied in December. Prices in nine of the twelve categories that make up the index increased in January. The largest increases were seen in prices for food and non-alcoholic beverages, as well as for alcoholic beverages and tobacco. The steepest decline was registered in prices for clothing and footwear.
Annual headline inflation edged down from 0.4% in December to a flat reading in January, which marked the lowest level in record. Meanwhile, annual average HICP inflation - based on the harmonized index of consumer prices - edged down from 1.5% in December to 1.3% in January, the lowest level since January 2011.
The Central Bank expects HICP inflation to average 1.5% in 2014. FocusEconomics Consensus Forecast participants expect HICP inflation to average 1.4% this year, which is down 0.1 percentage points compared to last month's forecast. In 2015, the panel expects HICP inflation to increase to 2.1%.