Business News

Slovenia's annual inflation hits 2% in July

Ljubljana, 31 July (STA) - Consumer prices in Slovenia grew at an annual rate of 2% in July, up from 1.8% in June and the highest level since the end of last year, even as prices declined by 0.7% at the monthly level due to summer clearance sales.

Prices in the group housing were the biggest drivers of inflation, accounting for 0.6 percentage points of the annual growth rate on the back of much higher water and electricity prices. Dearer food contributed another 0.5 percentage points.

Overall, services prices went up by 2.9% on average in a year, with goods prices rising by 1.5%.

At the monthly level, prices dropped by 0.7% on average, mostly on account of a 13% plunge in clothing prices and a 10% decline in footwear prices. Fuel prices were also lower.

On the other hand, package holidays prices surged by over a tenth, more than offsetting the effect of lower food prices.

The harmonised index of consumer prices, an EU benchmark, stood at 2%, down 0.1 points over the month before.

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