Slovenia's annual inflation rate fell by another 0.5 percentage points to 2.5% in May, the lowest since September 2021. At the monthly level, prices went up by 0.5% on average, show the latest Statistics Office data.

Measured with the harmonised index of consumer prices, an EU gauge, the May annual consumer prices growth was 2.5% as well, which compares to 3% in April and 8.1% in May 2023.

This marks the first time since the autumn of 2022 that consumer price growth in Slovenia slipped below the euro area average, where the monthly rate stood at 2.6% in May according to the latest Eurostat data, having accelerated by 0.2 points on the month before.

In Slovenia, inflation continues to be driven by services prices, which rose by 4.3% in a year. Goods prices went up by only 1.6%.

The biggest impact on the monthly inflation rate came from a 4% increase in prices of package holidays.