24 July 2023

Inflation in the Visegrad Group 2023






"Above-standard mutual V4 cooperation is also set up in the field of official statistics, through the cooperation of national statistical offices. Experts have been communicating with each other since 1991, sharing experiences, supporting joint projects, solving problematic issues and challenges. Common topics within statistical areas are also formally reflected in the “Memo-randum of Understanding on Cooperation between the Statistical Offices of the Visegrad Group countries”, in which new areas of mutual cooperation are specified every year.

Slovakia chaired the Visegrad Group - from July2022 to the end of June 2023.The economic development after the COVID-19 pandemic was mainly marked by the rapid dy-namics of price growth - inflation. The popula-tion ́s living costs reached new historic highs, especially during the years 2022 and 2023, anduntil now they are a challenge for political and financial authorities who are trying to moder-ate this growth. The cooperation of the V4 statistical experts fo-cused, among other things, on price growth and inflation indicators. A professional work-shop focused on the introduction of innova-tions and new methods for measuring price growth, held in April 2023, enabled the ex-change of valuable experience. Thus it will con-tribute to the improvement of statistical prod-ucts, necessary for making effective and useful decisions. The topic of inflation was also chosen for thepublication “Inflation in the Visegrad Group”.The current price growth in the V4 countrieshas been among the highest averages of the EUmember states in recent months and is wellabove the EU. Therefore, both professional andlay users increased the demand for statisticalproducts in this field.

The publication offers answers to many ques-tions, for example: How did the prices of food, fuel and transport develop in the Visegrad Fourcountries? Is the growth of inflation already atits maximum and are there already any signs ofchanges in the development trend? How do‘national’ and ‘harmonised’ inflation differ?" 




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