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Slovenia Inflation January 2024

Slovenia: Harmonized inflation drops to over two-year low in January

Harmonized inflation eased to 3.4% in January from December’s 3.8%. January’s reading represented the weakest inflation rate since September 2021, despite remaining above the Euro area’s average of 2.8%. Looking at the details of the release, the moderation chiefly reflected prices for food and non-alcoholic beverages, and for hospitality increasing at more moderate rates in January. However, prices for transportation rebounded, limiting the overall decrease.

Accordingly, the trend pointed down, with annual average harmonized inflation coming in at 6.7% in January (December: 7.2%). Meanwhile, consumer price inflation fell to 3.3% in January, from December’s 4.2%.

Finally, harmonized consumer prices fell 0.60% from the previous month in January, matching December’s reading. January’s decrease was steeper than the Euro area’s average of 0.40%.

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