Slovakia: Inflation rises in December from the prior month
Latest reading: Harmonized consumer prices increased 4.1% in annual terms in December, following a 3.9% rise in the prior month and remaining among the highest in the euro area.
Relative to the previous month’s figures, price pressures were higher for food and non-alcoholic beverages in December (+2.8% on a year-on-year basis vs +0.9% in November). In contrast, there were reduced price pressures for transportation (+1.8% vs +4.4% in November), housing and utilities (+3.7% vs +3.8% in November), recreation (+4.1% vs +5.4% in November) and restaurants and hotels (+8.9% vs +9.0% in November).
Meanwhile, consumer prices increased 3.8% in December, following a 3.7% rise in the previous month.
Lastly, harmonized consumer prices declined 0.33% in December on a month-on-month basis, following a 0.28% rise in the prior month.
Panelist insight: Commenting on the outlook, Marian Kocis, analyst at Erste Bank, stated:
“Looking ahead to 2026, we expect inflation to remain close to 4% year on year, keeping it about 2 percentage points above the euro area average. Government support for energy prices will continue for most households, covering around 90% of them […]. Rising services prices are expected to remain one of the main drivers of inflation. New fiscal consolidation measures will reduce household disposable income through higher taxes and health contributions, which could slow consumption growth and ease inflation pressures.”