Slovakia has the third-highest inflation rate in the Eurozone. Prices rose by more than four percent in May compared to the same month last year. According to Eurostat data, prices increased at a similar rate in Estonia and Croatia. The Eurozone average is just under two percent. After a decline at the beginning of the year, food prices also rose. However, analysts say that this rise in food prices is not unusual. Compared to last year, Slovaks paid more for services, restaurant meals, and groceries, according to the Statistical Office. Specifically, the prices of oils, non-alcoholic beverages, and fruit increased the most, as is typical. On the other hand, Slovaks paid less for meat and vegetables. Analysts attribute the increase to the impact of fiscal consolidation measures. Globally, food prices rose by an average of five percent over the year, while in Slovakia, they rose by just under four percent. According to analysts, the positive news is that we are likely to see slightly lower price growth next year. However, it is unlikely that Slovakia will come close to the current European Union average of two percent.
Source: Správy STVR
