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Harmonized indices of consumer prices in March 2021

Harmonized indices of consumer prices in March 2021

Last update: 16.04.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 16.04.2021

The average annual inflation rate (expressed by the change in the average harmonized index of consumer prices over the last 12 months compared to the average of the previous 12 months) was 1.5 % in March 2021, down by 0.1 pp compared to February.

In March, the corona crisis situation still had a major impact on data collection for the harmonized index of consumer prices (HICP). The traditional field price survey has continued to be replaced by collecting prices from other sources, e.g. websites, telephone and email inquiries. Part of the prices were solved by imputation. This was due to the closure of selected outlets and operations of services, as well as measures taken for field work. More in the Methodical.

The annual inflation, comparing the price level in March 2021 with March 2020, increased from 0.9 % in February to 1.5 %. This development was most significantly influenced by the March increase in tobacco prices.

Month-on-month HICP inflation reached 0.6 % in March. The increase in the price level in March compared to February was also mostly influenced by the increase in the prices of tobacco products, but also by the increase in the prices of fuels. The overall month-on-month rise in the HICP was slowed down, to a lesser extent, by the decline in food prices.

The contributions of the individual divisions of the COICOP classification to month-on-month HICP inflation were as follows: positive contributions to month-on-month inflation and thus an overall increase in prices was recorded in the divisions: Alcohol and tobacco (positive contribution 0.44 percentage points, of which increase in tobacco prices 0, 43 pp), Transport (positive contribution 0.14 pp, of which fuels 0.13 pp), Clothing and footwear (positive contribution 0.03 pp), Restaurants and hotels (positive contribution 0.01 pp), Housing, water, electricity, gas and other fuels (positive contribution 0.01 pp). On the contrary, negative contributions - the month-on-month decrease in prices was in the following branches: Food and non-alcoholic beverages (negative contribution -0.05 pp), Post and communications (negative contribution -0.01 pp).

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