Business News

Annual Inflation Rises to 2.2%

Ljubljana, 31 May (STA) - Consumer prices in Slovenia rose by 0.8% in May, mainly on account of costlier food. The annual inflation rate rose by 0.5 percentage points to 2.2%, official statistics released on Tuesday show.

Measured with the harmonised index of consumer prices, the EU standard, prices went up by 0.8% at the monthly level and by 2.4% year-on-year (as much as last year), the Statistics Office (SURS) said.

The most substantial price hikes affected food, clothing and footwear.

Prices of food and non-alcoholic beverages rose by 2.6%, mainly on account of a 21.9% hike in prices of fruit, which contributed 0.3 percentage points to inflation.

Higher prices of coffee, tea, cocoa, vegetables and sugar, jam chocolate and confectionery added a further 0.2 percentage points to the monthly growth in consumer prices.

Another 0.2 points was on the account of dearer clothing and footwear. Prices in this group rose by 2.2% as April discounts ended and new lines hit shops.

The prices of package holidays increased by 2.3%, contributing 0.1 of a percentage point to inflation. Accommodation services in hotels rose by 4.1%.

Also higher were prices of motorcycles and bicycles (+2.3%), and of passenger transport by road and by air (+1.6% and 1.3%, respectively).

The biggest price hikes year-on-year were recorded in the group alcoholic beverages and tobacco (6.4%) and food and non-alcoholic beverages (6.3%), while prices in the group restaurants and hotels fell the most (10.9%), according to SURS.

In the euro area, inflation edged down to 2.7% at the annual level in May, down 0.1 percentage point on April, Eurostat reported.

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