Finance News

Slovenia's annual inflation rate at 0.3 pct in July

Slovenia's annual inflation rate was 0.3 percent in July despite a 0.1 percent dip in consumer prices month-on-month, caused mostly by a 10.3 percent drop in clothing and footwear prices, the country's Statistical Office said on Friday.

Measured by the Harmonized Index of Consumer Prices (HICP), a key indicator in the eurozone, Slovenia posted an annual deflation rate of 0.3 percent in July and prices fell by 0.2 percent in a month.

Service prices increased on average by 2.1 percent year-on-year, while goods prices decreased by 0.8 percent.

Inflation was driven by food prices (plus 0.5 percentage points) as fruit prices surged by 16.2 percent and meat prices by 6.3 percent.

Higher prices in the group of miscellaneous goods and services added 0.3 percentage points to the inflation rate as insurance prices rose by 5.4 percent.

By contrast, the prices of petroleum products were down one percentage point year-on-year.

In June and July, summer sales pushed clothing and footwear prices down by 11.3 percent and 8.1 percent, respectively. The prices of liquid fuels increased by 10.5 percent month-on-month and those of accommodation services increased by 4.3 percent.

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