Development of inflation rates in Slovakia
The inflation rate for consumer prices in Slovakia moved over the past 27 years between -0.5% and 23.3%. For 2019, an inflation rate of 2.7% was calculated.
During the observation period from 1992 to 2019, the average inflation rate was 5.8%
per year. Overall, the price increase was 341.60 %. An item that cost 100 Euro in 1992 was so charged 441.60 Euro in the beginning of 2020.
In only a few countries negative inflation rates are achieved. This means that the general price level is declining and consumer prices get cheaper. This case is called deflation.In comparison to other countries, the drastic price increases are no longer on average. Usually this is a sign of political and economic turmoil.Back to overview: Slovakia