Slovenia’s inflation speeds up slightly to 2.1% y/y in August

Slovenia’s inflation speeds up slightly to 2.1% y/y in August
By bne IntelliNews August 31, 2021

Slovenia’s consumer prices increased by an annual 2.1% in August, despite lower food prices, accelerating slightly from a 2% growth in the previous month, the statistics office said on August 31.

In July, the annual inflation was driven by higher prices of petroleum products (by 1.2 pp) and hotel and restaurant prices (0.3 pp).

Package holidays lowered the inflation by 0.4 pp, which is mainly due to 13.3% lower prices of package international holidays. Prices of package domestic holidays on average grew by 4.7%..

Year on year, the biggest price increase was registered in the transport sector, 9.2%, followed by alcoholic drinks and tobacco (+4.2%) and hotel and restaurants (+3.7%). Prices in housing water electricity and gas sector as well as in furnishing, both increased by 3.2%.

Food and non-alcoholic beverages prices fell by 1.4% y/y in August.

Prices in recreation and culture fell the most y/y in the eight month of the year, by 2.3%.

The 12-month average price growth was 0.5%.

Month on month, Slovenia's inflation was 0.1%, after CPI prices edged up 0.4% in July.

In the first eight months of 2021, consumer prices increased by 1%.

Measured with the harmonised index of consumer prices, the annual growth of consumer prices in August was also 2.1%, against deflation of 0.7% in the same month of 2020.