Saturday, 15 March 2025
Slovakia’s harmonized inflation rate, measured according to the uniform European methodology, reached 4.2% year-on-year in January 2025, while prices increased by 1.8% month-on-month.
The rise in prices was primarily driven by higher costs for alcoholic and non-alcoholic beverages, food, and housing with energy. The food and non-alcoholic beverages category had the highest impact on month-on-month inflation, contributing 0.32 percentage points, with food prices accounting for 0.11 percentage points and non-alcoholic beverages for 0.21 percentage points. Alcoholic beverages and tobacco added 0.26 percentage points, while housing, water, electricity, gas, and other fuels contributed 0.24 percentage points. Transport also played a significant role, contributing 0.24 percentage points. In contrast, price declines were recorded in health, which lowered inflation by 0.04 percentage points, and clothing and footwear, which decreased inflation by 0.05 percentage points.
The average annual HICP inflation rate, which measures the change in the average price level over the past 12 months compared to the previous 12-month period, stood at 3.1% in January 2025. This inflation metric is crucial for assessing price stability in Slovakia and forms part of the Maastricht criteria, which are necessary for euro area entry. The data underscores the importance of monitoring inflation trends as policymakers work to maintain economic stability in the region. As inflation continues to fluctuate, analysts will closely watch key sectors contributing to price changes, with particular attention to energy, food, and transport costs.
Source: Statistical Office of the SR
