Slovakia: Drop in consumer prices softens in November
November’s figure was mainly driven by higher prices for food and non-alcoholic beverages as well as for hotels, cafes and restaurants, according to the Statistical Office of the Slovak Republic (SOSR).
In annual terms, consumer prices declined 0.2% in November, which followed October’s 0.3% fall. Consumer prices have been falling on an annual basis uninterruptedly since December 2014, FocusEconomics reports.
Meanwhile, the harmonized index of consumer prices rose 0.1% in monthly terms in November (October: +0.3% month-on-month). Harmonized consumer prices fell 0.2% annually, following October’s 0.3% decline.
In the 12 months up to November, HICP consumer prices have fallen, on average, 0.5%.
The National Bank of Slovakia (NBS) expects harmonized inflation to be 1.2% in 2017 and to increase to 1.8% in 2018. 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 inflation to be 1.1% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel expects HICP inflation to rise to 1.9%. ■