Inflation Slovakia 2023
Average inflation: 10.7%
Current Inflation
Inflation is very high at 10.7%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 15.4%. The lowest inflation was in December at 5.9%.
- Highest month
- February: 15.4%
- Lowest month
- December: 5.9%
- Difference
- 9.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 17.8%. The lowest price increase was in Transport with an average of 1.4%.
- Highest increase
- Food and non-alcoholic beverages: 17.8%
- Lowest increase
- Transport: 1.4%
Historical Context
Current inflation is 4.5% higher than the 5-year average of 6.2%.
- 5-year average
- 6.2%
- 10-year average
- 3.4%
- All-time high (2022)
- 12.7%
- All-time low (2016)
- -0.5%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -2.0 percentage point.
- Change vs. previous year
- -2.0 percentage points
- Largest monthly swing
- December: -9.5 percentage points
ECB Target
Inflation is 8.7% 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 €110.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 15.2% | +6.8 |
| February | 15.4% | +6.4 |
| March | 14.7% | +4.3 |
| April | 13.8% | +2.1 |
| May | 11.9% | -0.7 |
| June | 10.9% | -2.4 |
| July | 9.7% | -3.9 |
| August | 8.8% | -5.3 |
| September | 8.2% | -6.0 |
| October | 7.1% | -7.8 |
| November | 6.3% | -9.0 |
| December | 5.9% | -9.5 |
| Average | 10.7% |
Data source
Data from OECD. Last updated: 11/01/2026.