Slovak inflation is back at a three-year low of 2.1% y/y in June

Slovak inflation is back at a three-year low of 2.1% y/y in June

Y/y Slovak inflation growth has oscillated around 2% since March and month on month it has stagnated. / bne IntelliNews

By bne IntelliNews July 16, 2024

The consumer price indices (CPI) year-on-year growth in Slovakia is at a three-year low in June, returning to its level from April of 2.1%.

Y/y inflation growth has oscillated around 2% since March and month-on-month it has stagnated.

“The prices of food, non-alcoholic beverages, but also beer, wine, and fuel dropped month-on-month, as a result of which June’s prices remained at May’s level,” Slovak statisticians highlighted.

“Overall, y/y inflation continued to be influenced primarily by increases in the prices of goods and less important services in household expenditures, such as alcohol, medical and dental services, and also university fees,” the report by the Statistical Office also states.

In the transport sector prices grew by 1.7% y/y. The prices of alcoholic beverages and tobacco increased by 6.9%, followed by the development of the services of doctors and dentists, pushing the price growth in the health sector to 6.7%.

Food prices registered a moderate growth of 0.5% y/y with 5 out of 9 monitored subgroups registering higher growth y/y. Housing and energy expenditure, imputed rent and solid fuels were cheaper y/y.

In m/m terms, the prices of food and non-alcoholic beverages dropped by an average of 0.2%, and the development in fuel prices led to a decrease of 1.7% in the transport sector. The spike of 3.9% was registered in the recreation and culture sector amid the summer holiday season.

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