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Financial News: Slovakia Inflation Accelerates Further

Slovakia Inflation Accelerates Further

11/14/2022 - 08:04:00 (RTTNews)

(RTTNews) - Slovakia's consumer price inflation accelerated further in October to reach its highest level in more than two decades, as prices of the majority of commodities increased sharply, figures from the Statistical Office of the Slovak Republic showed on Monday.

The consumer price index climbed 14.9 percent year-on-year in October, faster than the 14.2 percent rise in September.

Consumer prices increased by double digits for the eighth month in a row, and the latest inflation rate was the highest since the start of the millennium, the statistical office said.

Prices for food and non-alcoholic beverages alone surged 26.1 percent annually in October, and transport costs rose notably by 13.6 percent amid more expensive fuel prices.

Utility costs grew above 16.0 percent for the fourth successive month in October, rising 16.4 percent from last year.

On a monthly basis, consumer prices increased 1.2 percent in October, following a 0.9 percent gain in the prior month.

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