Slovenia Inflation January 2016

Slovenia

Slovenia: Consumer prices drop considerably in January

February 5, 2016

Consumer prices decreased 1.4% in January over the previous month (December: -0.4% month-on-month), which represents the largest drop on record. The monthly fall was mainly driven by seasonal discounts on clothing and footwear and by lower prices of petroleum products.

Consumer prices fell 0.6% in annual terms in January, which was down from December’s 0.5% reading. Meanwhile, annual harmonized consumer prices fell 0.8% in January, following the 0.6% decrease observed in the previous month. Annual average HICP remained unchanged at December’s minus 0.8%.

The Central Bank expects HICP inflation to average 1.0% in 2016 and increase to 1.5% in 2017. FocusEconomics Consensus Forecast panel participants expect HICP inflation to average 0.6% in 2016, which is down 0.1 percentage points compared to the previous month’s forecast. In 2017, the panel expects HICP inflation to accelerate to 1.3%.


Author: Massimo Bassetti, Economist

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Slovenia Inflation January 2016

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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