Slovakia's annual inflation rate picked up to 2.2% in May of 2021 from 1.6% in April, above market expectations of 1.9%. It was the highest inflation rate since March of 2020, mainly driven by prices of transport (10.7% vs 9.3% in April), of which fuels, reflecting not only a gradual rise in prices but also a base effect as fuel costs fell sharply a year ago in May due to the peak of the first wave of the pandemic. Additional upward pressure came from prices of alcoholic beverages & tobacco (7.7% vs 8.7%); communication (6.6% vs 6.5%); education (3.6% vs 3.4%); restaurants & hotels (3.3% vs 2.7%) and miscellaneous goods & services (2.9% vs 2.5%). Meanwhile, costs continued to fall for food & non-alcoholic beverages (-0.8% vs -1.1%). On a monthly basis, consumer prices inched up 0.8%, following a 0.2% increase in the prior month and beating market estimates of a 0.6% rise. source: Statistical Office of the Slovak Republic
Inflation Rate in Slovakia averaged 2.76 percent from 2002 until 2021, reaching an all time high of 9.80 percent in November of 2003 and a record low of -0.90 percent in July of 2016. This page provides - Slovakia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Slovakia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
Inflation Rate in Slovakia is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Slovakia to stand at 1.50 in 12 months time. In the long-term, the Slovakia Inflation Rate is projected to trend around 1.70 percent in 2022 and 1.50 percent in 2023, according to our econometric models.