Consumer prices up by almost 3 percent this year

Food and non-alcoholic beverages rose in price the most.

Illustrative stock photoIllustrative stock photo(Source: Sme, Marko Erd)

Consumer’s prices in September increased in a y-o-y comparison by 2.9 percent. When comparing to August, the prices increased 0.1 percent while when comparing August and July, they were higher by 0.2 percent, informed the Slovak Statistics Office.

Mainly food and beverages

Food and non-alcoholic beverages increased in prices by 4.9 percent on y-o-y basis. In education field, it was growth of 4.8 percent.

Read also:Food prices in Slovakia have grown the most in the EU Read more 

Prices of living, water, electricity, gas and other fuels, as well as various goods and services, increased by 3.8 percent.

“Food and non-alcoholic beverages alongside costs for living, water, electricity and gas are involved in our consumer’s costs, altogether 43 percent,” said analyst of WOOD & Company Eva Sadovská, as quoted by the SITA newswire.

Alcoholic beverages and tobacco increased by 2.8 percent, post office and line by 2.3 percent, furniture, equipment and common maintenance of the household by 1.8 percent, healthcare, restaurants and hotels by 1.3 percent, recreation and culture by 1.6 percent, clothes and shoes by 0.9 percent, transport by 0.4 percent.

African swine fever and benefits

Despite the fact that the prices of some food and non-alcoholic beverages grew faster in some months of 2017 and 2018 than now, the rate of current y-o-y growth is quite significant, according to Sadovská.

Read also:African swine fever slows down sale of pigs and pork Read more 

Since April 2018, it has been the second fastest growth. In August 2019, the level was about 5.2 percent.

“African swine fever also contributes to higher prices of the meat. Benefits for work at nights and during the weekends also play a role as well as the growth of the minimum wage itself,” Sadovská said, as quoted by SITA. She added that the prices are influenced by the condition of this year's harvest in Slovakia and in the world, as well as prices of agri-commodities in the world markets.

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