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Prices are rising, inflation is RECORD: The highest in 20 years! We will hunt even deeper in our wallets – Topky.sk

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Fuel prices began to rise first. The main reasons are the sanctions that Europe and the rest of the world have imposed on Russia and the effort to cut themselves off from their oil. However, current inflation has also been affected by rising food prices and energy bills. Slovaks will thus have to fish the deepest in their wallets in the last 20 years. VIDEO SaS will not veto the tax bonus on children, the richer are said to be still inflated Inflation reached a 20-year record However, prices also rose for other items, more than half of the 12 expenditure groups of households achieved year-on-year growth of more than 7%. Inflation has been rising year on year for the fifteenth month in a row, but in the last three months its growth has been accelerated by the war in Ukraine. In April, it reached the level of 11.8%. Photo gallery (4) Source: Statistical Office of the Slovak Republic The month-on-month growth of prices in April 2022 reached 1.5%. “Although the current rate of price growth was slower than in March, it is higher in the long run. Year-on-year inflation jumped to 11.8%, was 10.4% in March and 9% in February,” said Food and Fuel, which rose again. At present, prices rose in 10 out of 12 household expenditure groups at the month-on-month level. On a month-on-month basis, food prices rose by 2.6%. The most significant impact on growth in this segment was the increase in meat prices by 5.6% Compared to the development in previous months, the growth of vegetable prices slowed down to 2.9%, oil and fat prices grew faster by 3.3%. Only fruit prices fell by 0.9%. Photo gallery (4) Source: Getty Images In the field of housing and energy, imputed rents increased mainly by 2.3% month-on-month (taking into account the costs of own housing), higher prices were also maintained for various services related to housing. From energy, prices for solid fuels grew by 1.4%. In the transport sector, the overall rise in prices was mainly due to more expensive fuels by 3.5%, and the purchase of vehicles by 1%. Prices in restaurants and cafes, personal care and insurance also increased. Compared to March, the consumer price index increased in April in households of employees and in households of pensioners by 1.5%, in low-income households by 1.4%. Food is more than 14% more expensive year-on-year Inflation rose to 11.8% in April 2022. Rising prices in all 12 monitored branches contributed to its increase. The prices of the two most important expenditure items of Slovak households, ie food and housing costs, were double-digit higher on a year-on-year basis. Food prices were 14.3% more expensive year-on-year, in all nine monitored items. The highest share in the expenditures of Slovak households is represented by housing costs, while their growth was at the level of 15.7% in April. Year-on-year growth increased both in imputed rents (currently up by 19.7%) and in housing-related services (maintenance and repair of dwellings by 19.2%). For energy (electricity and gas), the impact of price adjustments within the regulated network industries of January is still felt. Households also paid extra for thermal energy and solid fuels In April, households also paid extra for thermal energy and solid fuels. Fuels had higher prices by 31.2% year-on-year. Compared to April 2021, we also paid extra for meals in restaurants and cafes by 11.7%, costs for personal care by 8.7%, for outpatient services 7.1%. In April 2022, the consumer price index increased year-on-year for households of employees, for low-income households by 11.7%, for households of pensioners by 12.7%. In the aggregate of the four months of 2022, consumer prices rose by an average of 9.9% year on year. With April’s overall year-on-year inflation rate of 11.8%, core inflation reached 11.1% and net inflation 10.2%. Month-on-month, core inflation reached 1.7% and net inflation 1.5%. Core inflation follows the rise in the price level after excluding the impact of changes in regulated prices (eg energy prices) and other administrative measures (eg tax adjustments, etc.). Net inflation is core inflation without changes in food prices. The development of consumer price indices is monitored on a universal consumer basket composed of 738 representatives – selected types of goods and services paid by the population, who were assigned certain weights. The scales are revised annually, are currently valid for 2022 and are available in the database of the Statistical Office of the Slovak Republic. Prices are ascertained throughout the territory of the Slovak Republic in a selected network of stores and service operations during the first 20 days of the month under review. Prices are rising, inflation is RECORD: The highest in 20 years! We will fish even deeper in our wallets

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