The Slovenia Times

Inflation cools in October

Rising prices of food, including fruit and vegetables, among the drivers of inflation. Photo: Nebojša Tejić/STA

Slowing from 7.5% in September to 6.9% in October, Slovenia's annual inflation rate continues to be mainly fuelled by higher prices of food and non-alcoholic drinks, the latest Statistics Office figures show. Costlier electricity is another major factor contributing to the headline rate.

A 7.3% increase in prices of food and non-alcoholic beverages contributed the most, 1.3 points, to annual inflation.

Electricity prices rose by 24.3% in a year to add 0.8 points to the headline rate, and a 7.1% increase in prices in the recreation and culture group contributed another 0.7 points.

On the other hand, prices of solid fuels were down by 14.1% on average, dropping the most in a year to ease inflation by 0.2 points. Cheaper means of transport also reduced inflation by 0.2 points.

At the monthly level, consumer prices rose by 0.2% in October. The transition to the autumn/winter collection in shops continued to drive an increase in clothing and footwear prices, which rose by 2.5% to add 0.2 points to monthly inflation. Meanwhile, prices of package holidays dropped 5.6%.

Following months of downward trend Slovenia's inflation went up slightly in August to then heat up by 1.3 points in September.

Even though it is not letting up significantly, the headline rate this month was still considerably lower than a year ago, when it stood at 9.9%.

Measured with the harmonised index of consumer prices, an EU-wide gauge, annual inflation in October ran at 6.6%, which compares to 10.3% a year ago, while prices at monthly level increased by 0.3%.


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