Annual inflation rate increase is the slowest since late 2018

While transport prices dropped in the annual comparison, food prices increased slightly.

Illustrative stock photoIllustrative stock photo (Source: TASR)

The annual rate of price increase in Slovakia in May 2020 has been the slowest since December 2018.

The year-on-year inflation rate amounted to only 2 percent in total, down from April’s 2.1 percent.

The core inflation reached 2 percent in total, while net inflation amounted to 0.9 percent, the data published by the Statistics Office on June 15 shows. In monthly comparison, consumer prices rose by 0.3 percent in May 2020.

“The slow-down was affected mostly by lower transport prices,” Eva Sadovská, an analyst with WOOD & Company, wrote in a memo. They dropped by 7.6 percent y-o-y.

On the other hand, the rate of increase in food prices accelerated to 4.8 percent y-o-y, and by 5 percent y-o-y in education.

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