Slowing inflation, but still expensive food in Slovakia
In Slovakia, inflation moderated to 2.6 percent by September, but food prices remained high, and the population had to face significant expenses when buying food. According to the data of the Slovak Statistical Office, although inflation has decreased from 2.8 percent in August, the annual growth of food prices is permanently around three percent, especially in the case of milk, cheese, cereals and eggs, there was a decreasing trend. However, oils, fats, and soon chocolate will also face significant price increases due to the problems in the cocoa market.
Slovak households spend an average of 20 percent of their expenses on food, which exceeds the EU average of 14 percent. Slovaks spend as much on food as the French, but food prices in Slovakia exceeded the EU average by 6.7 percent last year. According to Eva Sadovská, an analyst at Wood & Company, a significant part of the population has access to food, but in 18 percent of households it is not a matter of course that a proper lunch is on the table every second day, especially among the elderly living alone, single parents and families with several children. the Infostart.
Due to the VAT changes announced by the Fico government, another price increase is expected in the future, and Slovak inflation may accelerate again. According to the forecast of the Slovak National Bank, inflation may jump to 5 percent in 2024 before it moderates again.
Related news
Hungarian livestock farmers must also pay attention to the protection against African swine fever that has appeared in Slovakia
In connection with the African swine fever (ASF) outbreak in…
Read more >Is life cheaper beyond Komárom? – Hungarian shoppers flock to Slovakia to save money
According to a recent investigation by Mfor.hu, shoppers from Hungary…
Read more >Poland’s Biedronka opens first store in Slovakia
Polish retail chain Biedronka has opened its first store in…
Read more >Related news
GKI Analysis: Without EU funds, the domestic economy would just flounder
On May 1, Hungary marks the 21st anniversary of joining…
Read more >Csökkentette az élelmiszerárakat az árrésstop és az online Árfigyelő bővítése
2025 áprilisában csökkent az infláció és az élelmiszerárak növekedési üteme…
Read more >NGM: we always take action against unjustified price increases, inflation may decrease further in the coming months
The government is successfully fighting price increases. In April, inflation…
Read more >