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Slovenia Business Week no. 06: EU Report Finds No Overarching Price Hikes in Slovenia

A report by the European Commission shows that there was no overall rise in prices in Slovenia due to the adoption of the euro, however bars, restaurants and small service providers did hike up their prices

A report by the European Commission shows that there was no overall rise in prices in Slovenia due to the adoption of the euro, however bars, restaurants and small service providers did hike up their prices.

The report, which was presented to the EU's Economic and Financial Council on Tuesday, 30 January, finds that price increases in bars and restaurants in December cannot be attributed to seasonal factors or higher input costs.

Prices were also jacked up by small service providers such as hairdressers, cleaners and repair shops, especially in sectors where there is little competition but also in recreation, culture and sport.

However, the report points out that price monitoring has been quite successful: consumers have had the chance to report any unwarranted price hikes to the Consumer Association, which is publishing a name-and-shame list of the most exorbitant cases.

European Economic and Monetary Affairs Commissioner Joaquin Almunia and European Central Bank president Jean-Claude Trichet noted that people had the impression prices rose more than they actually did.

It is too bad that the impression is opposite to the actual situation, as inflation in the eurozone is the lowest in history, they said in a statement.

Slovenian Finance Minister Andrej Bajuk said he was glad that none of the negative scenarios had come true. The smooth transition to the euro shows that Slovenians have adopted the euro as their new currency, he said.

Source: Slovenian Press Agency STA

Author: STA, Slovenian National Press Agency