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Harmonized indices of consumer prices in May 2021
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Harmonized indices of consumer prices in May 2021

Last update: 17.06.2021
ilustratívny obrázok/illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 17.06.2021

In May 2021, annual inflation, comparing the price level of the Harmonized Index of Consumer Prices (HICP) in May 2021 compared with May 2020, increased to 2 %. In April 2021, its value was 1.7 %.

The average HICP annual inflation rate (expressed as the change in the average harmonized index of consumer prices over the last 12 months from the average of the previous 12 months) was 1.5 % in May 2021, and 2.8 % in May 2020.

Month-on-month HICP inflation reached 0.6 % in May 2021. Its increase was mostly influenced by the increase in food prices, although their year-on-year price development decreased.

Contributions of divisions of COICOP classification to the month on month  0.6 % HICP inflation were as follows: positive contribution to the month-inflation, this represents an overall increase in prices, was recorded in the divisions: Food and non-alcoholic beverages (contribution of 0.37 percentage points due to the increase in food prices), Recreation and culture (contribution 0.06 pp), Miscellaneous goods and services (contribution 0.05 pp), Restaurants and hotels (contribution 0.04 pp), clothing and footwear (contribution 0.03 pp), Alcoholic beverages and tobacco (contribution 0.02 pp), Housing, water, electricity, gas and other fuels (contribution 0.02 pp), Furniture, household equipment and routine household maintenance (contribution 0.02 pp), Health (contribution 0.01 pp), Transport (contribution 0.01 pp). No branch of the COICOP classification recorded an overall month-on-month decrease in prices (and thus no negative contribution to month-on-month HICP inflation).

In May, consumer prices were collected in the standard way, only a few items were collected in substitution, from other available sources (websites, by telephone and by e-mail). This was allowed by gradual relaxation of measures against the pandemic (opening of shops and service operations).

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