In Slovakia, the year-on-year increase in prices for industrial products for the domestic market remained above 30% even in the first month of 2023. This is evidenced by statistics published by the government of the republic.
It is noted that industrial producer prices for the domestic market in January 2023 were 33.6% higher year on year and rose 8.6% month on month. As in previous months, the main impact on development was the increase in prices in the supply of electricity and gas by almost 66% year on year. Price increases were also observed in other important sectors of the Slovak industry: in the production of vehicles, prices were higher by 12% compared to the previous year, in the production of food and beverages by almost 27%, and in the production of rubber and plastics by almost 20%.
In addition, prices for livestock products once again updated their highs, approaching 40%. In construction, production costs for labor slowed down, but materials rose again to 15%. At the same time, the growth rate of prices for products in the field of petroleum products processing has maintained a downward trend, but still remains high – 27%. According to statistics, the only industry in which prices slightly decreased compared to last year was the production of metals and metal structures.
Recall that Slovakia condemns Russia’s actions in Ukraine and advocates increased sanctions pressure on Moscow. At the same time, the republic largely depends on trade and economic cooperation with the Russian Federation. First of all, we are talking about the supply of energy resources, which Bratislava officially intends to completely abandon.
Source: EurAsia Daily
