Slovenia: Harmonized inflation declines to lowest level since April 2022 in May
Harmonized inflation dropped to 8.1% in May, following April’s 9.2%. May’s figure marked the lowest inflation rate since April 2022. The moderation was broad-based, with reduced price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities.
The trend was unchanged, with annual average harmonized inflation coming in at April’s 10.3% in May. Meanwhile, consumer price inflation fell to 8.4% in May, from the previous month’s 9.4%.
Lastly, harmonized consumer prices increased 0.90% over the previous month in May, coming in below the 1.00% increase recorded in April.
On the outlook, Alen Kovac and Ivana Rogic from Erste Group commented:
“Looking ahead, the coming months should bring inflation […] towards mid-single digits, mainly reflecting upside food price pressures. However, energy prices should keep a deflationary tone, especially provided that no additional external shocks occur.”