Slovakia inflation October 2022

The harmonized inflation rate rose to 14.5% in October, up from 13.6% in September. The October result recorded the highest rate of inflation since May 2000. The reading was driven by rising price pressures on apparel, housing, energy, food and soft drinks. However, transportation price pressures decreased.

The trend indicated an upward trend, with harmonized annual inflation averaging 10.4% in October (September: 9.6%). Meanwhile, consumer price inflation rose to 14.9% in October from 14.2% in September.

Finally, harmonized consumer prices rose 1.30% in October from the previous month, accelerating from September’s 0.94% increase.

FocusEconomics panelists expect coordinated inflation to average 8.5% in 2023, an increase of 0.8 percentage points from last month’s forecast, and 3.1% in 2024.

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