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Slovenia Inflation March 2023

Slovenia: Harmonized inflation comes in at highest level since December 2022 in March

Harmonized inflation came in at 10.4% in March, up from February’s 9.4%. March’s result marked the highest inflation rate since December 2022. Looking at the details of the release, prices for food and non-alcoholic beverages, as well as housing and utilities, increased at a faster pace in March. That said, transportation prices increased at a slower rate.

The trend pointed up, with annual average harmonized inflation coming in at 10.2% in March (February: 9.8%). Meanwhile, consumer price inflation rose to 10.5% in March, from the previous month’s 9.3%.

Lastly, harmonized consumer prices rose 0.50% over the previous month in March, coming in below February’s 0.60% rise.

On the outlook, analysts at the EIU commented:

“We expect headline inflation to ease gradually in 2023 in response to softer demand, diminishing commodity price base effects and easing global supply-side constraints, but it will remain high in historical terms, with energy prices far above their average in the past decade. In the near term, underlying price pressures will strengthen as increased input costs and stronger wage demands feed broader price increases at retail level.”

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