The inflation rate in Slovakia increased to 2.3 percent year-on-year in February 2019 from 2.2 percent in the previous month and slightly above market expectations of 2.2 percent. It was the highest inflation rate in four months, as prices rose further for food & non-alcoholic beverages (2.5 percent from 1.6 percent in January); restaurants & hotels (3.8 percent from 3.5 percent); health (2.0 percent from 1.8 percent). On the other hand, cost slowed for housing & utilities (4.2 percent from 4.3 percent); recreation & culture (0.6 percent from 0.7 percent); and miscellaneous goods & services (3.0 percent from 3.8 percent). Also, cost of transport declined further (-2.2 percent from -1.8 percent). Core inflation, which excludes volatile items, was at 1.9 percent, unchanged from the previous month and below market consensus of 2.0 percent. On a monthly basis, consumer prices and the core index went up 0.2 percent, in line with expectations. Inflation Rate in Slovakia averaged 2.84 percent from 2002 until 2019, 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.
Inflation Rate in Slovakia is expected to be 2.10 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 2.10 in 12 months time. In the long-term, the Slovakia Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.