NBS analysts: Food prices could increase by 10 pc over coming months

The year-on-year growth rate for food prices in Slovakia is likely to reach 10 percent in the next few months, according to a commentary drawn up by Slovak Central Bank (NBS) analysts on the Statistics Office's report on inflation in January. "Rising energy and food prices will affect the lowest income groups in particular, due to the 'fixed' nature of these expenditures. An armed conflict in Ukraine would, of course, contribute to a further rise in the prices of cereals and energy commodities. Cost factors continue to be a source of currently high inflation both in Slovakia and in other EU countries," the NBS analysts said.