Inflation, consumer prices for the Slovak Republic
FPCPITOTLZGSVK • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.76
Year-over-Year Change
-23.53%
Date Range
1/1/1992 - 1/1/2024
Summary
The Inflation, consumer prices for the Slovak Republic measures changes in the prices paid by consumers for a basket of goods and services in Slovakia. This key economic indicator is closely monitored by policymakers and analysts to assess the overall cost of living and guide monetary policy decisions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Inflation, consumer prices for the Slovak Republic is a monthly index that tracks the price changes of a representative basket of consumer goods and services in Slovakia. It is a widely used metric for evaluating the purchasing power of the Slovak currency and informing economic and monetary policy.
Methodology
The data is collected by the Statistical Office of the Slovak Republic through surveys of retail prices.
Historical Context
Inflation trends are a crucial input for the European Central Bank's monetary policy, as the ECB aims to maintain price stability across the Eurozone.
Key Facts
- Slovakia joined the Eurozone in 2009.
- The base year for the inflation index is 2015 = 100.
- Annual inflation in Slovakia averaged 2.4% from 2010-2020.
FAQs
Q: What does this economic trend measure?
A: The Inflation, consumer prices for the Slovak Republic measures the change in the prices paid by consumers for a basket of common goods and services in Slovakia.
Q: Why is this trend relevant for users or analysts?
A: This inflation metric is a key indicator of the overall cost of living and purchasing power in Slovakia, and is closely watched by policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected monthly by the Statistical Office of the Slovak Republic through surveys of retail prices across the country.
Q: How is this trend used in economic policy?
A: Inflation trends in Slovakia are a crucial input for the European Central Bank's monetary policy decisions, as the ECB aims to maintain price stability across the Eurozone.
Q: Are there update delays or limitations?
A: The inflation data is published monthly with a lag of approximately two weeks.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for the Slovak Republic (FPCPITOTLZGSVK), retrieved from FRED.