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Slovakia: Consumer prices fall for 23rd consecutive month

Staff Writer |
In October, consumer prices in Slovakia edged up 0.2% from the previous month, which followed the 0.1% increase registered in September.

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October’s figure was mainly driven by higher prices for clothing, food and miscellaneous goods, according to the Statistical Office of the Slovak Republic (SOSR).

In annual terms, consumer prices declined 0.3% in October, which followed September’s 0.5% fall. Consumer prices have been falling on an annual basis uninterruptedly since December 2014.

Meanwhile, the harmonized index of consumer prices rose 0.3% in monthly terms in October (September: 0.0% month-on-month).

Harmonized consumer prices fell 0.3% annually, following September’s 0.5% decline. In the 12 months up to October, HICP consumer prices have fallen, on average, 0.6%.

The National Bank of Slovakia (NBS) expects harmonized consumer prices to fall 0.5% in 2016 and to increase 1.1% in 2017.

FocusEconomics Consensus Forecast participants expect harmonized consumer prices to decline 0.4% in 2016, which is unchanged from last month’s forecast.

For 2017, the panel expects HICP inflation to come in at 1.2%, which is also unchanged from last month’s forecast.

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