Slovenia Inflation January 2021


Slovenia: Consumer prices decline at a more moderate rate in January

February 5, 2021

Consumer prices dropped a seasonally-adjusted 0.43% in January over the previous month, sharper than the 0.32% drop logged in December. Looking at the details of the release, electricity, gas and other fuels prices dropped in January compared to the previous month, while price pressures for transportation eased. That said, the bulk of the downtick was driven by lower prices for clothing and footwear, due to the winter sales.

Consumer prices fell 0.7% on an annual basis in January, a less pronounced drop than December’s 1.1% decrease. Meanwhile, the trend pointed down mildly, with the annual average variation of consumer prices coming in at minus 0.3% in January (December: -0.1%). Lastly, harmonized prices fell 0.9% on an annual basis in January, which was a more modest drop compared to December's 1.2% decrease.

FocusEconomics Consensus Forecast participants project harmonized inflation to average 1.1% in 2021, which is down 0.1 percentage points from last month’s estimate, and 1.6% in 2022.

Author:, Junior Economist

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Slovenia Inflation Chart

Slovenia Inflation January 2021 1

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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