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Slovenia Business Week no. 17: Inflation Up to 2.6% in April

The monthly inflation rate for April was 1.1%

Consumer prices continued to climb in April, pushing Slovenia's annual inflation up 0.3 percentage points to 2.6%, the Statistics Office said on Monday, 30 April. The monthly inflation rate for April was 1.1%, the second month in a row that prices rose.

The average annual inflation rate remained unchanged at 2.5%, while the consumer price index using the EU's harmonised index was up 0.3 percentage points to 2.9%.

According to the Statistical Office, the rise was a result of higher prices of both goods and services: goods were 1.4% cheaper on average, while prices of services were up 0.3%.

The highest increases in April were recorded in the groups clothing and footwear (3.3%, with footwear going up 7.9%), food and non-alcoholic beverages (2%), transport (1.6%), housing (1.5%), restaurants and hotels (0.7%), household equipment and maintenance (0.4%), as well as alcoholic beverages and tobacco (0.2%).

In the food and non-alcoholic beverages group, the biggest increases were recorded in fruits (11.15%) and vegetables (10%).

To be found among the groups that have gotten cheaper in April are health (down 0.8%) and recreation and culture (0.3%).

On an annual comparison, services were 3.4% more expensive on average, while prices of goods increased by 2.2%.

The Institute for Macroeconomic Analysis and Development (IMAD), the government's economic think-tank, meanwhile attributed the price changes in recent months to seasonal factors as well as to higher oil prices on the international market.

IMAD further stressed that the increase in prices between December 2005 and April 2006 was 1.5%, 0.2 percentage points higher than in the same period this year.

Source: Slovenian Press Agency STA

Author: STA, Slovenian National Press Agency