Slovakia: Inflation moderates in January
February 13, 2012
In January, consumer prices increased 1.4% over the previous month. The monthly reading mainly reflected rising prices in the food and housing categories, the two major components of the CPI basket. The result was above the 0.1% rise recorded in December but well below the 1.9% increase seen in January 2011. Accordingly, annual headline inflation slowed from 4.4% in December to 3.9% in January, marking the lowest level since July last year. Annual average HICP inflation (based on the harmonized index of consumer prices) rose from 3.8% in November to 4.1% in December, the last month for which data is available. The Central Bank expects annual average HICP inflation to reach 2.8% in 2012 before moderating to 1.9% in 2013.
Author: Armando Ciccarelli, Head of Data Solutions