In December, Slovakia experienced a slowdown in its EU inflation metric to its lowest point in three months, according to data released by the Statistical Office of the Slovak Republic last Friday.
The Harmonized Index of Consumer Prices (HICP), which serves as the standard EU measure, increased by 3.2% year-on-year in December. This was a deceleration compared to the 3.6% rise observed in November.
Specifically, annual price growth in the food and non-alcoholic beverage sector moderated significantly, declining to 2.4% in December from a previous 4.7%. Conversely, inflation in the transportation sector saw an uptick, climbing to 3.5% from 1.3%.
Month-over-month, the HICP registered a decrease of 0.5% in December, reversing the 0.2% rise witnessed in the preceding month.
For the entire year of 2024, the annual average inflation rate as measured by the HICP was 3.2%, down substantially from 11.0% in 2023.
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