Business News

Annual and Monthly Inflation at 0.1% in February

Ljubljana, 28 February (STA) - Consumer prices increased by 0.1% in February over January and so did annual inflation, the Statistics Office said on Friday. February inflation was lower than in the previous years and was affected by higher prices of clothes and footwear, as well as cheaper fuel and vegetables.

Annual inflation dropped from 0.8% in January and 2.7% a year ago. Prices of services increased by 1.7% in 12 months, while prices of goods dropped 0.6%.

The biggest annual increase in prices was recorded for alcohol and tobacco (2.7%). The statistical group of miscellaneous goods and services was up 1.7%, while the groups of food and non-alcoholic beverages and hospitality services both increased by 0.9%.

Prices in the group of food and non-alcoholic beverages and the prices of alcohol and tobacco pushed inflation up by 0.2 percentage points (pp) each.

While hikes were recorded in prices of eggs, milk and dairy (3.6%) and bread and cereals (2.5%), drops were recorded in the prices of vegetables (2.6%) and fruit (1.5%).

A 6.4% increase in utility services pushed annual inflation up by 0.2 pp.

The biggest annual drop in prices of goods was recorded for clothes and footwear (-3.2%), communication (-1.3%), transport (-0.9%), housing equipment (-0.5%), health (-0.4%) and education (-0.2%).

A drop in the prices of oil derivatives pushed annual inflation down 0.4pp in February, as fuel and lubricants decreased by 6.1% and liquid fuel was down 4.2%. The decrease in prices of clothes and footwear dragged inflation down 0.2pp.

On monthly level, the prices of clothes and footwear contributed 0.2pp to February inflation (clothes were up 3.4% and footwear by 1.9%). A 5.3% increase in the prices of flowers pushed inflation up another 0.1pp.

One of the highest increases in prices was recorded in sports and recreation services (4.2%), sewerage collection (3.8%) and transport services (3.6%).

Cheaper fuels and lubricants (-1.1%) and vegetables (-3.7%), on the other hand, dragged inflation down 0.1pp each.

Measured with the harmonised index of consumer prices, an EU gauge, the annual inflation rate in February was 0.2%.

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