The prices of goods and services have risen by 40 percent over the past ten years since Slovakia joined the European Union, but this pace of increase has been outperformed by a 70-percent rise in the average salary over the same period, an analysis by Poštová Banka has shown.
"When it comes to the majority of foodstuffs, somebody with an average salary needs to work fewer hours to buy them than was the case ten years ago. This is thanks to increasing salaries, which have grown at a faster rate than prices”, said the bank's analyst Jana Glasova. In rough figures the average wage went up from €477 to €824 per month.
Anca Dragu
