Inflation Slovakia 2024
Average inflation: 2.8%
Current Inflation
Inflation is normal at 2.8%, around the ECB target.
Peak and Trough
The highest inflation was in January at 3.9%. The lowest inflation was in June at 2.0%.
- Highest month
- January: 3.9%
- Lowest month
- June: 2.0%
- Difference
- 1.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Education with an average of 10.5%. The lowest price increase was in Housing, water, electricity, gas and other fuels with an average of 0.5%.
- Highest increase
- Education: 10.5%
- Lowest increase
- Housing, water, electricity, gas and other fuels: 0.5%
Historical Context
Current inflation is 3.4% lower than the 5-year average of 6.2%.
- 5-year average
- 6.2%
- 10-year average
- 3.7%
- All-time high (2022)
- 12.7%
- All-time low (2016)
- -0.5%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +7.9 percentage point.
- Change vs. previous year
- -7.9 percentage points
- Largest monthly swing
- March: -12.4 percentage points
ECB Target
Inflation is 0.8% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 3.9% | -11.3 |
| February | 3.4% | -12.0 |
| March | 2.3% | -12.4 |
| April | 2.1% | -11.7 |
| May | 2.2% | -9.7 |
| June | 2.0% | -8.9 |
| July | 2.6% | -7.1 |
| August | 2.9% | -5.9 |
| September | 2.6% | -5.6 |
| October | 3.1% | -4.0 |
| November | 3.2% | -3.1 |
| December | 2.8% | -3.1 |
| Average | 2.8% |
Data source
Data from OECD. Last updated: 11/01/2026.