Slovakia inflation climbs further in May

Figures

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Slovakia's consumer price inflation accelerated further in May to reach its highest level in nearly twenty-two years, mainly driven by higher prices of food, fuel and energy, figures from the Slovak Statistical Office (SÚSR) showed on Tuesday.

The consumer price index (CPI) climbed 12.6% year-on-year in May, following an 11.8% rise in April.

Inflation increased for the sixteenth consecutive month, reaching its highest rate since June 2000, the Bratislava-based agency said.

Food prices alone surged 16.6% in May compared to last year, and housing costs rose 15.6%. Transport costs also logged a double-digit growth of 20.9% amid soaring fuel prices.

Additional upward pressure came from clothing and footwear (3.5%); furnishings and household equipment (9.9%), health (4.2%); communication (5.2%); and miscellaneous goods and services (8.4%).

On a monthly basis, consumer prices rose 1.6% in May, just above the 1.5% gain in the prior month.

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