Inflation trends in Slovakia and the UK show impact of fuel costs

Inflation rates in Slovakia and the United Kingdom showed divergent trends in August, with both regions facing pressure from rising fuel and transport costs.

In Slovakia, inflation slowed to 3.1 percent. While falling food prices helped temper the rate, rising fuel prices—driven by global production constraints and Middle East conflicts—have pushed fuel costs toward double-digit annual growth. Analysts suggest that secondary effects from energy prices could cause inflation to accelerate slightly above 3.5 percent by the end of the year.

In the United Kingdom, inflation accelerated to 3.1 percent in August, up from 2.9 percent in July. This marks the highest level in five months. The increase was primarily driven by a 4.6 percent rise in transport costs, following a 23 percent surge in motor fuel prices. While food inflation remained stable at 1.3 percent, core inflation held steady at 2.6 percent. Markets are now awaiting a decision from the Bank of England regarding interest rates.