Slovakia: Inflation moderates further in August
September 12, 2013
In August, consumer prices fell 0.2% over the previous month, exceeding the 0.1% decrease recorded in July. The monthly decrease was driven by lower prices for food and non-alcoholic beverages as well as for clothing and footwear.
Annual headline inflation eased from 1.5% in July to 1.3% in August, the lowest level since December 2010. Meanwhile, annual average HICP inflation - based on the harmonized index of consumer prices - edged down from 2.7% in July to 2.5% in August.
The Central Bank expects HICP inflation to average 1.7% this year before moderating to 1.6% in 2014. FocusEconomics Consensus Forecast participants expect HICP inflation to average 1.8% this year, which is down 0.1 percentage points compared to the previous month's forecast. In 2014, the panel expects HICP inflation to increase to 2.1%.