The consumer price index (inflation) in Slovakia increased by 2.2% year on year and by 0.1% month on month.
The rate of price growth accelerated by 0.1 percentage points on April’s 2.1% y/y, which was the country's three-year inflation low, and ended the 15-month-long easing trajectory.
“In addition to feed, the y/y inflation was influenced by higher prices of alcohol, tobacco and fuels. Housing and energy prices decreased for the first time in three years,” Slovak statisticians highlighted in their May report.
Food and non-alcoholic beverages, one of the most significant components of households’ shopping baskets, increased by 0.7% y/y on average, with prices of meat, bread, cereals and sugar and confectionary on the rise, while milk, cheese and eggs, as well as oils and fats, registered a nearly 3% drop. Prices of vegetables and fruits fell by more than 1%.
Prices in the transportation sector, including fuel prices, were up by 5.2% y/y. Alcohol beverages and tobacco prices increased by 7.7%, as did prices in the sector of restaurants and hotels (+7.1%). Prices in housing and energy decreased moderately by 0.1%, but it was the first decrease in this sector since April 2021.
In terms of m/m development, a moderate rise in prices was registered, with the determining prices of food and non-alcoholic beverages up by 1% on average after two months of decrease. In the transportation sector, fuel prices fell for the first time in 2024 (-3.1%), and imputed rental prices as well as prices of solid fuels decreased in the housing and energy sector.
From January to May inflation rose by 2.8% y/y.
