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Slovenia Inflation February 2022

Slovenia: Consumer prices rise at a quicker pace on an annual basis in February

Consumer prices rose a seasonally-adjusted 1.38% over the previous month in February (January 0.39%). February’s figure was the joint-highest increase in prices since January 2002. Looking at the details of the release, rising price pressures for electricity, gas and other fuels, as well as food were behind February’s more-elevated reading.

Inflation came in at 6.9% year-on-year in February, which followed January’s 5.8% increase, marking the highest inflation rate since June 2008. The annual average variation of consumer prices increased to 3.1% in February (January: 2.4%). Harmonized prices rose 7.0% on an annual basis in February, which was a sharper rise compared to January’s 6.0% increase.

On the outlook, analysts at Erste Bank highlighted:

“Inflation pressures will most likely remain pronounced […] heading into [2022], reflecting global energy and commodity price developments, hence supply-side developments. Meanwhile, we continue to see demand-side pressures staying balanced.”

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