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Slovenia Business Week no. 07: Inflation Inches up to 2.4% in January

Slovenia's annual inflation rate edged up 0.1 percentage points

Slovenia's annual inflation rate edged up 0.1 percentage points to 2.4% in January, despite a drop in prices last month.

The National Statistics Office said that prices fell 0.5% on average in January.

Nevertheless, the annual rate was up a notch because an even bigger drop in prices had been registered in January 2005.

The monthly deflation was caused primarily by a 12.1% drop in clothing and footwear prices resulting from the winter sales.

This was enough to offset higher prices of food and beverage (1.5%), housing (0.8%) and transport (0.7%).

Prices of goods were down 0.9% on average in January, while services cost 0.2% more, the office added.

According to the Statistics Office, the 12-month average price growth, measured with the EMU convergence price index, remained steady at 2.5% in January.

Slovenia was thus fulfilling the inflation criterion for the eurozone, which at last count, in December, stood at 2.5%.

Source: Slovene Press Agency STA

Author: STA