Business News

Annual Inflation Up 0.1 PP to 0.8% in June (adds)

Ljubljana, 30 June (STA) - Annual inflation was at 0.8% in June, up 0.1 percentage points from the month before. The monthly inflation rate was 0.1%, while the average 12-month price growth was 1.1%, the Statistics Office said on Monday.

At the annual level, the highest price hike was recorded in alcoholic beverages and tobacco (+6%), which contributed 0.4 percentage points to the annual inflation. Higher prices in transport (+2.1%) contributed 0.3 points and utility and other services (+2.4%) added 0.2 points.

The annual inflation was meanwhile mitigated by lower food prices (-0.2 pp) and lower prices of clothing and footwear (-0.1 pp).

The monthly inflation was, on the other, hand pushed up by a rise in package holidays (+8.2%) at the start of the summer season, which contributed 0.3 percentage points to June inflation, while dearer tobacco (+1.9%), fuel and energy (+0.8%) and phone and internet services (+1.6%) contributed 0.1 points each.

On the monthly comparison, fruit prices dropped the most (-8.9%), contributing 0.2 pp to the monthly figure. Also lower were prices of furniture and equipment (-2.4%) as well as clothes and footwear (-1.4%), which together brought down the monthly inflation by another 0.3 pp.

The inflation in the first half of 2014 was at 1.5%, with the highest price hike registered in miscellaneous goods and services (+5.7%), followed by recreation and culture (+3.9%) and alcoholic beverages and tobacco (+3.5%). On the other hand, prices of apartment equipment dropped by 0.7%.

Measured with the harmonised index of consumer prices, an EU-wide standard, the annual inflation rate was at 1%, compared to last year's 2.2%, the monthly inflation was at 0.1% and the average 12-month inflation was at 1.2%. The overall hike in prices this year stood at 1.4%, the Statistics Office said.

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