Slovenia: Harmonized inflation drops to lowest level since May 2022 in April
Harmonized inflation came in at 9.2% in April, down from March’s 10.4%. April’s result represented the weakest inflation rate since May 2022. Looking at the details of the release, prices for food and transport grew at a weaker pace. That said, prices for recreating accelerated.
Annual average harmonized inflation rose to 10.3% in April (March: 10.2%). Meanwhile, consumer price inflation fell to 9.4% in April, from the previous month’s 10.5%.
Lastly, harmonized consumer prices rose 1.00% in April over the previous month, picking up from the 0.50% rise logged in March. April’s uptick marked the highest reading since November 2022.
On the outlook, analysts at the EIU commented:
“We expect inflation to trend gradually lower this year, against a backdrop of relatively weak demand and negative commodity price base effects, but it will remain high in historical terms. Energy costs remain far above their average over the past decade, and enduring pipeline pressures from increased wages and input costs will contribute to fairly sticky core inflation.”