Slovenia Inflation


Slovenia: Annual consumer prices decline at fastest pace in over five years in August

August 29, 2014

Consumer prices were flat in August over the previous month, which followed the 1.1% decline tallied in July. The monthly reading mostly reflected that a decline in prices for food and non-alcoholic beverages, transport as well as for housing, water and electricity was offset by higher prices for clothing and footwear as well as for recreation and culture.

Annual consumer prices fell 0.3% in August, which followed the flat reading observed in July. August’s print represented the lowest rate since July 2009. Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) fell from July’s 0.3% to a flat reading in August. Annual average HICP inflation ticked down from July’s 0.9% to 0.8% in August, which marked an all-time record low.

The Central Bank expects HICP inflation to average 0.5% in 2014 and 1.1% in 2015. FocusEconomics Consensus Forecast participants expect HICP inflation to average 0.8% in 2014, which is down 0.2 percentage points over the previous month’s forecast. In 2015, the panel expects HICP inflation to accelerate to 1.4%.

Author: Ricard Torné, Lead Economist

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Slovenia Inflation Chart

Slovenia Inflation August 2014

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistical Office of the Republic of Slovenia (SORS).

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