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Slovenia Business Week no. 10: Inflation Edges Lower in February

Slovenia's annual inflation rate was down from 2.4% in January to 2.2% in February despite a monthly increase of 0.4%, according to preliminary data of the National Statistical Office

Slovenia's annual inflation rate was down from 2.4% in January to 2.2% in February despite a monthly increase of 0.4%, according to preliminary data of the National Statistical Office.

Measured with the harmonised consumer price index which is used for comparisons with consumer price growth in the EU, annual inflation was at 2.4% in February, 0.1 percentage point below the convergence criteria for the euro adoption.

The February inflation rate was the result of higher prices of both goods (up 0.4%) and services (up 0.2%).

Prices of semi-durable goods increased by 0.7% and those of non-durable goods by 0.5%, whereas durable goods were 0.3% cheaper. Among services, air transport was 3.3% more expensive.

In February, higher prices were registered in the groups clothing and footwear (1.5%), housing, water, electricity, gas and other (1.1%), recreation and culture (1%), miscellaneous goods and services (0.6%), alcoholic beverages and tobacco, and restaurants and hotels (0.2%).

The end of winter sales caused an increase in prices of clothing and footwear: prices of footwear were up 3.1%, of clothing materials 2.5% and garments by 1.1%.

On a monthly comparison, lower prices were registered in the groups education (0.9%), furnishing, household equipment and maintenance (0.4%) and communications (0.1%). The fall of prices in these three groups was mostly the result of discounts.

Higher prices of fuel for heating pushed the inflation rate up by 0.2 percentage points, while clothing and footwear, other recreational items and equipment, and package holidays added 0.1 point each.

Lower prices of goods and services decreased the total price growth by 0.1 percentage point.

Source: Slovene Press Agency STA

Author: STA