Slovakia's inflation at 2.1% in November

Slovakia's inflation at 2.1% in November
Slovakia’s inflation amounted to 2.1% year-on-year in November
By bne IntelliNews December 17, 2018

Slovakia’s inflation amounted to 2.1% year-on-year in November, with core inflation reaching 2.2% and net inflation standing at 2.5%, the Slovak Statistics Office data showed on December 14. According to the economists’ estimation inflation in November should have reached 2.3% y/y.

In November 2018, core inflation had negative impact on month-on-month cumulative inflation by 0.10 percentage points (pp), regulated prices influenced inflation by 0.01pp, while indirect taxes had no effect on cumulative inflation. Food prices influenced core inflation negatively by 0.09pp. and net inflation had a negative impact on core inflation by 0.02pp.

Consumer prices increased by 2.1% y/y in total in November 2018. Prices in various sectors increased by the following amounts compared to November 2017; in restaurants and hotels by 3.8%; in transport 3.5%; in housing, water, electricity, gas and other fuels by 2.6%; in alcoholic beverages and tobacco by 1.6%; in food and non-alcoholic beverages and in education both by 1%.

In terms of month-on-month development, consumer prices went down in November by 0.1%; in transport by 1.5%; in food and non-alcoholic beverages by 0.5%; in alcoholic beverages and tobacco - 0.2%. On average, consumer prices increased by 2.6% y/y in 11M18.

Electricity price is expected to increase by 5.66% on average, gas price by 5.67%, heating price by 4.70% and the price of water and sewage by 1.70% from January 2019.

In its latest forecast in September, the Slovak Central Bank kept inflation outlook for 2018 at 2.6%. In 2019, the pace of inflation should accelerate to 2.8%.

Data

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