Yearly inflation reached 8.4% in January 2022, fuelled mainly by rising energy and food prices, with month-on-month inflation standing at 2.7%, the Statistics Office reported. January 2022 saw the highest monthly inflation rate in Slovakia in more than seventeen years. Prices were driven by the most important items in the consumer basket of Slovak households, namely food, whose prices increased by more than 8% y-o-y, and housing, energy and fuels, which saw a hike of 12.6% y-o-y. Yearly inflation was most notably supported by an 8.1% rise in food prices, a new record since September 2008. The most significant contributors to this were the prices of milk and cheese, and of bread and cereals, both of which grew by more than 9% y-o-y. Vegetables, oils and fats were also more expensive, with their prices rising by approximately 25%.
Source: TASR
