The year-over-year inflation rate in Slovakia rose to 13.6 percent in July, accelerating from 13.2 percent in June, the Slovak Statistical Office reported, as consumer prices in the country grew at the fastest rate in more than 22 years.
Inflation in Slovakia was mainly influenced by the higher prices of food and non-alcoholic beverages, on which Slovaks spend the most money along with housing and energy costs.
Compared to last year, food prices rose by 19.9 percent. The prices of bread, cereals, meat, milk, cheese, and eggs were higher by more than 20 percent. Customers paid more than 50 percent more for oils and fats. According to statistics, the peak of the summer season slightly dampened the price increase of vegetables and fruits.
Prices in the housing and energy category rose by 16.1 percent compared to last July. The increase in the price of solid fuels compounded the increase in energy prices from the beginning of this year. The prices of building materials also rose.
Inflation in Slovakia has been continuously accelerating since last February when it rose 0.9 percent. In the past five months, the pace of the year-over-year inflation rate has been in the double digits. In a month-over-month comparison, inflation rose 0.8 percent in July, which was the lowest since the beginning of this year.
In the Czech Republic, inflation in July rose significantly higher than in Slovakia.