As much as 88% of Slovaks said that inflation negatively affected their family budget, according to a new survey conducted by the Intrum agency, making Slovakia one of the worst-hit of the 24 countries surveyed.
According to Martin Musil, Executive Director of Intrum Slovakia, the figure is alarming. Even consumers who were relatively unaffected by the COVID-19 pandemic now feel the impact of high inflation.
“The sharp rise in prices and interest rates after years of low inflation and loose monetary policy has brought a deep pessimism to future expectations in Slovakia,” he adds.
Slovakia ranked third in Europe for fears of inflation, surpassed only by Hungary and Greece.
A quarter of Slovaks, which participated in the survey, believe inflation will stay high indefinitely. According to the prognosis of the Central Bank, inflation should peak at the start of the next year at around 20%.
Around 60% of Slovaks have already adjusted their spending, with situation expected to worsen from next year. further price rises are expected from the start of the new year.
(Michal Hudec | EURACTIV.sk)