Inflation grows fast due to increasing grocery prices

In October 2017, year-on-year inflation reached 1.7% in Slovakia, according to the Slovak Statistical Office cited by TASR on Monday. Moreover, consumer prices have risen by 0.3% month-on-month. Slovakia has thus seen the highest inflation rate since 2013. "The main factor fuelling inflation were grocery prices," wrote Ľubomír Koršňák, an analyst from UniCredit Bank Czech Republic and Slovakia. Their prices grew the fastest since July 2011. The only grocery items whose prices have fallen are fruit - by 4%, which is usual for this time of year. On the other hand, the prices of vegetables increased in October by 6.8% which is faster than usual for this season.