Inflation Slovakia 2004
Average inflation: 7.6%
Inflation in 2004
Inflation is very high at 7.6%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 8.5%. The lowest inflation was in December at 6.0%.
- Highest month
- February: 8.5%
- Lowest month
- December: 6.0%
- Difference
- 2.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Education with an average of 33.5%. The lowest price increase was in Furnishings, household equipment and maintenance with an average of -2.2%.
- Highest increase
- Education: 33.5%
- Lowest increase
- Furnishings, household equipment and maintenance: -2.2%
Historical Context
Inflation is around the 5-year average of 7.7%.
- 5-year average
- 7.7%
- 10-year average
- 7.8%
- All-time high (1993)
- 23.2%
- All-time low (2002)
- 3.1%
Trend
Over the period 2002-2004, inflation shows an upward trend. Compared to 2003, inflation has fallen by 0.9 percentage points.
- Change vs. previous year
- -0.9 percentage points
- Largest monthly swing
- November: -3.5 percentage points
ECB Target
Inflation is 5.6 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €107.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 8.3% | +1.0 |
| February | 8.5% | +0.9 |
| March | 8.2% | +0.3 |
| April | 8.0% | +0.3 |
| May | 8.4% | +0.8 |
| June | 8.1% | -0.4 |
| July | 8.5% | -0.2 |
| August | 7.2% | -2.0 |
| September | 6.6% | -2.9 |
| October | 6.6% | -3.0 |
| November | 6.3% | -3.5 |
| December | 6.0% | -3.2 |
| Average | 7.6% |
Data source
Data from OECD. Last updated: 13/01/2026.