Business News

Annual Inflation Rate Down to 2.3% (II)

Ljubljana, 30 March (STA) - Slovenia's annual inflation rate fell 0.6 percentage points to 2.3% in March although consumer prices rose by 1% compared to February, show data released by the Statistics Office on Friday.

The monthly inflation rate was up mainly due to a 14.1% hike in prices of clothing and footwear as new collections hit the stores, as well as dearer petroleum products.

Prices of fuels and lubricants went up by 3.1% and prices of liquid fuels by 2.7%.

Higher prices of clothing and footwear contributed 0.9 percentage points to monthly inflation and petroleum products 0.2 points.

A 15.2% hike in prices of sports equipment added 0.1 of a percentage point to inflation, as much as did a 2.4% increase in prices of bread and cereals.

Alcoholic beverages and tobacco were also dearer by 0.5% due to costlier wine (2.4%) and beer (1%).

Another seasonal factor was a 3.7% increase in the prices of motor cycles and bicycles.

On the other hand, monthly inflation was kept down by lower prices of fruit (-5.3%), furnishing, household equipment and maintenance, telephone and internet services, and package holidays.

In the past twelve months biggest price hikes were recorded in the groups alcoholic beverages and tobacco, and housing, water, electricity, gas and other (each by 4.7%).

Prices of food and non-alcoholic beverages went up by 4% and prices of transport by 3.3%.

Year-on-year, prices decreased on average in the groups communication (by 2.4%) and clothing and footwear (by 1.2%).

From March last year, the prices of goods went up by 2.9%, while services only come 0.9% costlier.

Measured with the harmonised index of consumer prices, an EU benchmark, prices in Slovenia rose by 2.4% in the past twelve months, which is down 0.4 percentage points on the previous month.

The annual inflation in the euro area was down 0.1 of a percentage point to 2.6%.

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