Purchasing power of Slovaks has risen in all European countries except Czechia

The purchasing power of Slovaks has risen in all European countries except Czechia over the last five years. The calculation takes into account inflation, nominal wage growth, and exchange rate changes. Slovak wages grew by 41% in nominal terms in 2019-23, much faster than inflation (24%). Slovaks feel richer especially in Norway (+36%), Sweden (+25%) and Turkey (+24%), which is good news ahead of the holiday season. They feel poorer only in Czechia (-4%). Slovak prices in shops tend to be lower compared to Western Europe and higher than in Central and Eastern Europe.

(trend.sk)