Business News

Inflation Level in November at 1.3% (adds)

Ljubljana, 29 November (STA) - Slovenia's annual inflation rate remained level at 1.3% in November. Prices dropped 0.1% over the month before in what was the third month of deflation this year, on the back of price declines in the majority of goods and services categories, the Statistics Office said Friday.

At the monthly level consumer price growth was held down by cheaper oil, food and telecommunications services, which reduced the consumer price index by 0.3 percentage points.

Significant increases were registered only in the group footwear and clothing, which raised the monthly inflation rate by 0.2 points.

At the annual level price growth was driven by food and beverage prices as well as housing services, headlined by a 12.7% increase in electricity prices and a 7.5% rise in utility prices.

On the other hand, petroleum prices declined by 4.7%, shaving 0.3 percentage points off the annual inflation rate.

Prices of technology products such as phones and audio-video equipment recorded drops in excess of 5%.

The harmonised index of consumer prices (HICP), an EU gauge, was at 1.2%, up from 1.1% in October and down from 2.8% in the same month last year.

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