Inflation in Slovakia
Slovakia - Harmonized Inflation
Inflation comes in at highest level since June 2000 in July
Consumer prices rose 0.80% in July over the previous month, slowing down from June's 1.20% increase. July's result marked the weakest reading since December 2021. The slowdown was largely due to slower growth in prices for food and non-alcoholic beverages. In addition, price pressures for housing and utilities grew at a slower pace.
Inflation rose to 13.6% in July, following June’s 13.2%. July's reading represented the highest inflation rate since June 2000. Meanwhile, the trend pointed up, with annual average inflation coming in at 8.7% in July (June: 7.8%). Finally, harmonized inflation ticked up to 12.8% in July, from June’s 12.6%.
On the recent softening of inflation and its outlook, Matej Hornak from Erste Group noted:
“[…] recent weeks revealed an easing of tensions in the market due to recession fears, causing a gradual decline of the (most) commodity prices, suggesting a peak in inflation in the summer months. For this year, we see consumer price growth at 11.4% on average.”
FocusEconomics Consensus Forecast panelists expect harmonized inflationto average 10.9% in 2022, which is up 0.8 percentage points from last month’sestimate, and 6.3% in 2023.
Slovakia - Harmonized Inflation Data
|Inflation Rate (HICP, annual variation in %)||-0.3||-0.5||1.4||2.5||2.8|
5 years of economic forecasts for more than 30 economic indicators.
Slovakia Harmonized Inflation Chart
Source: Slovakia Statistical Office (SOSR) and FocusEconomics calculations.
|Bond Yield||0.13||-4.12 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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August 16, 2022
Flash GDP data shows that year-on-year growth almost halved in Q2, coming in at 1.7%, compared to the 3.1% increase in Q1.
August 15, 2022
Consumer prices rose 0.80% in July over the previous month, slowing down from June's 1.20% increase.
August 10, 2022
Industrial production shrank 5.7% year on year in June (May: +1.1% yoy).
July 21, 2022
Industrial output rose 1.1% compared to the same month of the previous year in May, which contrasted April's 9.6% decrease.
July 21, 2022
Consumer prices rose 1.20% over the previous month in June, coming in below May's 1.60% rise.