Slovaks are desperate in shops. The price of three basic foods rose by incredible amounts in one year (+ price comparison) | TVNOVINY.sk – TVNOVINY.sk

Slovakia has been facing massive price increases for several months. A slight improvement should come only with the arrival of autumn. In addition to energy and fuel prices, people are most troubled by the ever-rising food prices. The Statistical Office has now published the latest data. The increase in prices is still not abating. Inflation has been growing at a double-digit rate for the fifth consecutive month. In July, it jumped to 13.6 percent. Prices in general have been rising continuously for almost a year and a half. Compared to last year’s July, prices in transport and gastronomy have risen the most, but Slovaks are primarily troubled by food prices, which cut a significant part of family budgets. They became more expensive globally by up to 19 percent. The record holders in growth are three basic foods The record holders in terms of price growth were three basic foods – oil, edam and beef. While we bought oil for about 1.9 euros a year ago, today it costs more than 3.5 euros. Eidam cheese has risen in price by almost 2.5 euros per kilo in a year, and boneless beef loin costs 11.4 euros per kilo, while a year ago we bought it for 9 euros. “Rapid growth is recorded mainly by cereals, bread, pastries and vegetable oils, but also by meat, milk, dairy products and eggs. Thanks to the summer season, fruits and vegetables achieve slower price growth,” said analyst Jana Glasová. The price increase should stop slightly in the fall. There are several reasons why food prices go up. “Inflation is pushed up by the prices of oil, energy, agricultural commodities, and also by the rising prices of insufficient production inputs,” Glasová said. The war in Ukraine contributes to price increases in two ways. The first of them is the aforementioned increase in the price of energy and gasoline, which is subsequently reflected in food prices. “The second way is a direct increase in the prices of cereals, vegetable oils or feed mixtures, as Ukraine and Russia are their important exporters,” added Glasová. ​The situation should improve with the arrival of autumn, but it will not be a radical change. “However, with the arrival of the autumn months, we expect the rate of inflation to slow down, while the growth of food prices should also moderate. We also expect that the slight month-on-month drop in fuel prices will continue in the coming months,” concluded Glasová.​