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Slovenia Business Week no. 39: Annual Inflation Edges to 2.3% in November

Higher prices of food and non-alcoholic beverages pushed Slovenia's inflation rate up 0.3% in November, taking the annual inflation rate to 2.3%, up from 1.5% in October

Higher prices of food and non-alcoholic beverages pushed Slovenia's inflation rate up 0.3% in November, taking the annual inflation rate to 2.3%, up from 1.5% in October, the National Statistics Office said on Thursday, 30 November.

The growth of prices measured with the harmonised index of consumer prices was 0.3%, but this did not have much impact on the 12-month average price growth measured with the EMU convergence price index, which remained level at 2.5%.

According to the latest data, for October 2006, the EMU convergence criterion for inflation was 2.8%, so Slovenia was still well within the limits.

Prices of goods were up 0.4% over the month before, with prices of services edging 0.2% higher on average.

The highest monthly price increases were recorded in the groups food and non-alcoholic beverages (1.4%), clothing and footwear (1.2%), housing, water, electricity, gas and other (0.5%).

The growth of prices in the group housing, water, electricity, gas and other was mostly a result of a 6.6% hike in municipal services.

In Ljubljana the price for the discharge and treatment of waste water went up, propelling the sewage system fee 42.1% higher. In Maribor waste disposal prices went up 11.6%.

In November lower prices were registered in the groups communication (1.1%), restaurants and hotels (0.5%), transport (0.3%) and alcoholic beverages and tobacco (0.2%).

Higher prices of food and non-alcoholic beverages contributed 0.3 percentage points to the inflation rate, while clothing/footwear and municipal services added 0.1 of a percentage point each.

Lower prices of liquid fuels and cars pushed the inflation rate down by 0.1 of a percentage point each.

On the annual level, prices grew the most in the groups alcoholic beverages and tobacco, miscellaneous goods and services, and furnishing, household equipment and maintenance (4.8%).

The groups restaurants and hotels and food and non-alcoholic beverages recorded a 3.9% price increase, while recreation and culture were 1.9% dearer.


Source: Slovenian Press Agency STA


Author: STA, Slovenian National Press Agency