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Investing.com -- Slovak headline inflation rose to 4.1% year-on-year in May, slightly exceeding the 4% threshold and meeting market expectations. Monthly consumer prices increased by 0.5%, while core inflation reached 3.3% year-on-year.
Rising service prices continue to be the primary driver of inflationary pressures in the Slovak economy. Food and non-alcoholic beverages saw a notable price increase of 1.3% month-on-month, significantly influencing May’s inflation figure.
Fuel prices, which decreased by 8% year-on-year, helped moderate headline inflation. The transport category still recorded a slight annual increase of 0.1%, primarily due to higher costs for transport-related services.
Several categories made significant contributions to the year-on-year inflation rate. Food added 0.53 percentage points, while items in the housing category contributed 0.65 percentage points. Recreation and culture added 0.42 percentage points, and the restaurants and hotels category contributed 0.68 percentage points to the overall inflation figure.
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