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Business news in Slovenia

Annual inflation rate drops by almost a percentage point

Ljubljana, 06 February (STA) - Slovenia's annual inflation rate stood at 3.3% in January, down from 4.2% in the month before, as prices declined by 0.6% at the monthly level. Annual price growth slowed across all major categories of products and services, the latest Statistics Office figures show.

The biggest contributors to annual inflation were food and non-alcoholic beverages, which were 3.2% more expensive and added 0.6 percentage points to the annual rate. However, this is much slower than the 4.6% recorded in December.

Prices in the group housing, water, electricity and fuels rose by 3.6%, a slight acceleration from the month before, and contributed 0.5 points to the headline rate.

Price growth in the group covering health services accelerated as well, from 8.5% to 9.4%, contributing another 0.5 points to overall inflation.

On the other hand, price growth slowed in the groups alcohol and tobacco, recreation and culture, and the hospitality industry.

At the monthly level prices decreased overall on the back of cheaper clothing and footwear prices, cheaper fuel gas, and less expensive holiday packages.

The harmonised index of consumer prices, an EU gauge, hit 3.4%, down from 3.8% in the month before.

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