In January, Slovakia recorded an inflation rate of 4% year-on-year, one of the highest changes in prices compared to December over the past 15 years. This acceleration in inflation follows a partial release of energy prices for households. While this indicates that inflation is on the rise, analysts suggest that the peak may have already been reached for the year, with expectations of a slowdown in price growth in the upcoming months.

The main contributors to the inflation increase were higher housing costs associated with energy as well as food prices, which collectively added more than two percentage points to the overall inflation rate. The latest data indicates that January's inflation was the highest since September of the previous year, showcasing significant pressures on household budgets. Energy and food prices have been at the forefront, reflecting global trends and local adjustments in the Slovak market.

As the situation develops, economists are closely monitoring the trends in energy prices and their impact on the wider economy. The potential for inflation to slow down in the coming months could offer some relief to consumers, but underlying challenges remain. The graph from Slovenská sporiteľňa highlights the ongoing dynamics of inflation, emphasizing the importance of vigilance in fiscal policy to manage these economic shifts effectively.