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Inflation – consumer price indices in March 2025
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Inflation – consumer price indices in March 2025

Last update: 15.04.2025
Ilustračný obrázok/illustrative image
Publisher: Statistical Office of the SR
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 15.04.2025

Inflation in March reached 4%, it was the highest in the last 15 months

March´s prices rose at the slowest rate since the beginning of the year, affected by lower prices of transportation and food. The acceleration of year-on-year price growth continued to be affected by non-alcoholic beverages, selected foods, food services, as well as alcoholic beverages with tobacco, and personal care products and services.

Consumer prices for goods and services increased by 0.3% month-on-month in March, at a slower pace than in the previous two months. Year-on-year inflation reached 4%, the highest level since December 2023.

 
 
 
 

Month-on-month development – March 2025 compared to February 2025

Consumer prices increased month-on-month in March in 9 out of a total of 12 divisions (household expenditure groups) ranging from 0.2% for housing and energy to 1.7% for apparel and footwear. Prices of transportation were lower by 1.5% and food and non-alcoholic beverages by 0.1%.

Higher prices of restaurants and hotels had the greatest impact on month-on-month inflation. Not only were food and beverage services more expensive by 1.5% (services in canteens by 2.3%, in restaurants and cafes by 1.1%), but also accommodation services, where prices rose by 1.2%. After 2 months of decline, a more significant price increase in apparel and footwear division by 1.7% also contributed to inflation.

In the most important division in terms of expenditure, housing and energy, prices increased by 0.2%. Prices of imputed rent, maintenance and repairs of dwellings, waste collection and solid fuels increased in particular. Prices of thermal energy decreased slightly.

In the miscellaneous goods and services division, consumers experienced a price increase of personal care services (hairdressing and beauty services by 0.9%) and personal accessories by 1.1%.

On the contrary, lower prices in transportation by 1.5% had a dampening effect on inflation growth. Prices of fuels were cheaper by 3.8%, but also transport services and the purchase of motor vehicles.

The price development of food and non-alcoholic beverages1) had a positive impact on month-on-month inflation, which dropped by 0.1% after 2 months of growth. This division has the second largest share in household expenditure.

Among food, 7 out of a total of 9 food items became cheaper. Compared to February, the prices of oils and fats were lower in particular by 4.1%, fruit by 1.3%, vegetables by 0.9% and meat by 0.3%. On the contrary, the prices of milk, cheese and eggs increased by 0.9%, as well as of bread and cereals by 0.7%. Prices in the entire sector rose due to an increasingly expensive non-alcoholic beverages1) by 1.4%.

Year-on-year development – March 2025 compared to March 2024

In March, inflation in the year-on-year comparison reached 4%, the pace of its growth accelerated slightly. Prices were higher year-on-year in all 12 divisions (household expenditure groups), from 1.1% in transportation to 10.6% in education.

The growth in overall inflation was the most affected by more expensive food and non-alcoholic beverages, whose prices were higher year-on-year by 3.2%. In this division, non-alcoholic beverages in particular continued to be more expensive by 15%, with a double-digit growth recorded by both mineral waters and juices, as well as coffee, tea and cocoa.

Within food division, 6 out of 9 components recorded higher prices year-on-year. Oils and fats were significantly more expensive by over 13%, maintaining a double-digit growth for the ninth consecutive month. The prices of milk, cheeses with eggs, fruit, as well as sugar and confectionery were also higher by 4 to 7%. On the contrary, prices of meat and vegetables dropped by up to 2.6%.

The inflation growth was mainly due to the divisions with a lower share of expenditure. These were mainly price increases in restaurants and hotels by 8.7%, we paid more especially for meals in restaurants and canteens. The price increase of miscellaneous goods and services by an average of almost 7%, affected by more expensive hairdressing and beauty services, but also financial services and insurance, also had a significant impact. The ever-increasing prices of alcoholic beverages and tobacco by 5.9% also increased inflation, with wine becoming more expensive, but also spirits, beer and tobacco.

In the most influential division, housing and energy, prices increased by 2.4%, the growth rate was more moderate. A double-digit year-on-year growth was recorded by the prices of water supply and waste collection. Thermal energy prices decreased slightly.

Development of core and net inflation

In March, the year-on-year inflation rate was 4%, core inflation reached 3% and net inflation reached 2.7%. Month-on-month, core inflation reached 0.3% and net inflation reached 0.5%.

Core inflation tracks the growth of the price level after excluding the impact of changes in regulated prices (e.g. energy prices) and other administrative measures (e.g. tax adjustments, etc.). Net inflation is core inflation excluding changes in food prices.

Price increase for different social groups

The Statistical Office of the SR publishes average consumer prices of national inflation for selected social groups (pensioner households, employees, low-income households), later always around the 26th day of the month in selected data cubes in the public database DATAcube. within chapter 2.3.1.1- Consumer Price Indices. Data for March 2025 will be published on April 25, 2025.

New consumer basket

Statistical Office of the SR published a new structure of the consumer basket for 2025. The weights of the 12 divisions are adjusted annually in accordance with the European methodology. For 2025, the shares of the two largest expenditure items decreased, housing and energy dropped to 23.3% and food with non-alcoholic beverages to 21.2% (applies to the national inflation CPI methodology). On the contrary, recreation and culture significantly increased its share of household expenditure to 8.3%.

Average prices of specific goods

The Statistical Office of the Slovak Republic publishes average consumer prices of selected items of goods and services from the consumer basket (including food)2) in a data cube in the public database DATAcube. (The cube is listed in the data sources at the end of this report). Data for March 2025 will be published on April 25, 2025.

1) The introduction of scanner data as a new source of data brings a significant increase in the quality and scope of processed data.

2) the cube mentioned contains data from January 2023. Older data are stored in the archive data cube [sp2042ms]. For the purposes of comparison in a long time series, it is possible to combine data from both cubes only for goods and services with the exception of those belonging to divisions 1 - food and non-alcoholic beverages; 2 alcoholic beverages and tobacco. For these two divisions (1; 2), data are processed until the end of 2022 using the original field collection methodology and from January 2023 using the new methodology and data sources from the so-called scanner data.

Data source: DATAcube. database:

Price growth indices (inflation) - year-on-year

  • Indices of consumer prices in comparison with corresponding period of previous year - monthly [sp0005ms]
  • Indices of consumer prices - detailed data - monthly [sp0029ms]
  • Price growth indices (inflation)- month-on-month

  • Indices of consumer prices in comparison with the previous month - monthly [sp0004ms]
  • Price growth indices to the base period

  • Indices of consumer prices (December 2000=100) - monthly [sp0006ms]
  • Core and net inflation

  • Development of core and net inflation change in comparison with corresponding period of previous year in % - monthly [sp0008ms]
  • Development of core and net inflation change in comparison with previous period in % - monthly [sp0007ms]
  • Development of core and net inflation change in comparison with December of previous year in % - monthly [sp0009ms]
  • Consumer baskets

  • Consumer basket 2025 [sp0037rs]
  • The Universal Consumer Basket 2025 [sp0038rs]
  • Inflation - specific social groups (data release for February 26 March 2025)

  • The development of consumer price indices (living cost) - employees - monthly [sp1803ms]
  • The development of consumer price indices (living cost) - pensioners - monthly [sp1804ms]
  • The development of consumer price indices (living cost) - households with low money incomes - monthly [sp1805ms]
  • Average food prices

  • Average consumer prices of selected products - monthly (since 2023) [sp1828ms]
  • Average fuel prices

  • Average fuel prices in the Slovak Republic - weekly [sp0207ts]
  • Average fuel prices in the Slovak Republic - monthly [sp0202ms]

Outputs for inflation:

Published types of inflation

The Statistical Office of the SR publishes two types of inflation:

  • development of consumer prices based on national methodology – Inflation – Consumer Price Indices (the English abbreviation CPI - Consumer Price Index is used)
  • development of consumer prices based on internationally harmonized EU methodology - Harmonized Index of Consumer Prices (HICP - Harmonized Indices of Consumer Prices)

The prices are monitored based on consumer basket, which is composed of selected representatives for selected types of goods and services included into 12 divisions, 44 groups and 101 classes according to COICOP classification. Internationally comparable inflation (HICP) differs from the national methodology (CPI inflation) in the structure of the prices of goods and services (it does not include the item "imputed rent" and selected items of major household repairs and maintenance) and, consequently, the value of the weights in the consumption basket. HICP data are published monthly, a few days after the national CPI inflation in terms of the First Release Calendar in the DATAcube database chapter: 2. 3. 3 - Harmonized indices of consumer prices (HICP inflation) and also in the database and in the press release on the Eurostat website.

Change in methodology in determining consumer prices

The Statistical Office of the SR uses a new source of data on prices, the so-called scanner data/transactional data of business chains to obtain prices for 2 of the 12 divisions of the required basket, for food and non-alcoholic beverages (from January 1, 2024) and for alcoholic beverages and tobacco (from January 1, 2025). Scanner data replaced traditional field surveys, thus significantly expanding the output of consumer prices in the mentioned segments while maintaining and increasing its quality. Their use is an important part of the modernization of price statistics. More in the methodological notes - CPI.

Consumption basket - structure of household expenses

The Statistical Office of the SR publishes the Structure of Household Expenditure graph, which presents the consumer basket valid for the year 2025. It indicates how much the household spends on specific expenditure groups of products and services in everyday life. Knowing the structure of household expenses is an essential part of determining the amount of inflation (price growth), because it determines the weights of expenditure items for its calculation. The weights are revised annually according to data from previous periods on household consumption.

 
 
 
 
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  • 840 05 Bratislava 45
  • Slovak Republic
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While publishing of the whole information report or its parts, please state the source of information, the Statistical Office of the Slovak Republic. The Statistical Office of the SR creates high-quality statistics useful for society according to 16 principles regarding the institutional environment, statistical processes and outputs in line with the Code of Practice for European Statistics.


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