Slovakia’s June inflation rate hits historic low of 0.7 percent

Harmonised inflation in June met analysts' expectations and posted the lowest level ever with consumer prices in Slovakia, measured by the harmonised index of consumer prices (HICP) of the European Union, showing 0.7 percent year-on-year growth, lower than the previously historic low reported in May of 1.1 percent, the Slovak Statistics Office reported.

Harmonised inflation in June met analysts' expectations and posted the lowest level ever with consumer prices in Slovakia, measured by the harmonised index of consumer prices (HICP) of the European Union, showing 0.7 percent year-on-year growth, lower than the previously historic low reported in May of 1.1 percent, the Slovak Statistics Office reported.

Slovakia reported similar dynamics in the summer of 2007 when Slovakia's price stability was closely monitored prior to its eurozone entry. At that time, harmonized inflation recorded its lowest level ever, as it was 1.2 percent in July and August. This was low enough for Slovakia to meet the Maastricht criterion.

Now, despite low figures, Slovakia has not been fulfilling this inflation target for three months. Inflation in other EU member states has been decreasing faster than in Slovakia and some countries are already at the border of deflation. Nevertheless, deflation in times of a crisis is considered to be a factor deteriorating economic development further, SITA wrote. SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

Railway station in Košice

Who’s the foreigner in this country now?

The virus has highlighted some differences between migrants and locals, but erased others.

23. jan
Košice

News digest: Slovakia has passed the peak of the second wave, health minister says

Polish doctors will help take swabs in Slovakia this weekend. People who have had COVID can just show their positive test result.

22. jan
Rapid testing in Košice

Nationwide COVID-19 testing – and criticism – starts again

Longer ‘screening’ different to October operation.

22. jan
Ján Sýkora is an easy-going ice-hockey player who has got a great sense of humour.

Fashion brands mean nothing to me. Professional hockey player about his life in central Slovakia

In an entertaining interview, the down-to-earth ice hockey player, Ján Sýkora, talks about being a busy bee with a poor memory.

21. jan