Slovakia’s consumer prices inch down 0.1% y/y in June 2014

By bne IntelliNews July 14, 2014

Consumer prices in Slovakia edged down 0.1% on the year in June 2014 after staying flat the month before, statistics office data showed on July 14. On a monthly basis, consumer prices inched up 0.1% from May when they posted a 0.2% monthly increase.

Prices of housing, water, electricity, gas and other fuels, which have the strongest weight in the consumer basket, declined by 0.6% y/y in June, the same as in May and April. Prices of food and non-alcoholic beverages, which have the second strongest weight in the basket, dropped 1.7% y/y in June quickening from a 0.4% y/y drop in May.

On average, consumer prices fell by 0.1 % on the year in the first half of 2014.

The annual core inflation inched up 0.1% in June after increasing 0.2% in May.

IntelliNews comment:  Slovakia’s headline inflation has been easing gradually since November 2011. Yet, we expect increasing domestic demand, which should boost the country’s economic growth this year, will fuel inflation in the second half of the year. Private consumption is expected to grow in Slovakia this year with the European Commission projecting an annual rise of 1.3% in 2014 and the country’s finance ministry seeing an annual increase of 2.4% in household consumption. 

Retail sales, which grew for the seventh month in a row in May, are suggesting household consumption is on the rise. Iindustrial sales also posted an annual growth - of 1.9% in May. In April they slightly fell after seven months of continuous growth.

The central bank’s latest forecast sees the annual CPI inflation at 0.1% in 2014 and at 1.6% in 2015. The International Monetary Fund is expecting Slovakia’s end-year inflation to be 0.7% y/y.

  June-14, m/m change May-14, m/m change June-14, y/y change May-14, y/y change Jan-June-14, y/y change
Consumer prices, total 0.1% 0.2% -0.1% 0.0% -0.1%
Food and non-alcoholic beverages -0.1% 1.1% -1.7% -0.4% -0.2%
Alcoholic beverages and tobacco 0.0% 0.2% 1.6% 2.2% 2.2%
Clothing and footwear 0.9% 0.4% 1.3% 1.1% 0.9%
Housing, water, electricity, gas and other fuels 0.0% 0.0% -0.6% -0.6% -0.8%
Furnishings, household equipment and routine maintenance of the house 0.0% 0.1% -0.8% -0.9% -1.0%
Health 0.1% 0.0% 1.0% 1.0% 1.0%
Transport 0.2% 0.6% -0.2% -0.4% -1.1%
Communication 0.0% -0.8% -1.5% -1.6% -1.5%
Recreation and culture -0.1% 0.0% 0.5% 0.9% 0.7%
Education 0.6% 0.0% 3.4% 4.7% 4.7%
Hotels, cafes and restaurants 0.1% 0.0% 1.2% 1.3% 1.4%
Miscellaneous goods and services 0.5% -0.2% 2.1% -0.9% -1.5%
Source: Statistical Office of the Slovak Republic          

Related Articles

UniCredit reportedly in talks to sell Czech/Slovak unit

UniCredit is in talks with two local suitors over the sale of the Italian bank’s Czech/Slovak business, local media reported on March 27. The claim remains only speculation, but if accurate, it ... more

Poland isolated again as it threatens to block EU declaration

Poland will not sign the Rome Declaration if its demands for moulding the EU’s future are not reflected in the document, Prime Minister Beata Szydlo threatened on March 23. The statement could ... more

EU asks CEE to comment on Russian gas promises

The European Commission has invited comments from Central & Eastern European states on proposals put forward by Russian gas giant Gazprom to meet competition concerns. Visegrad and the Baltic ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss