Slovenia Inflation December 2017

Slovenia

Slovenia: Inflation climbs to the highest rate in eight months

December 29, 2017

In December, consumer prices came in flat in month-on-month terms, contrasting a 0.3% rise over the previous month in November and interrupting four consecutive months of rising prices. Looking at a breakdown of the components, prices declined in three subcategories, remained constant in two, and saw an upturn in the remaining seven. Prices for clothing and footwear declined the most, while prices for furnishings, household equipment and routine household maintenance registered the biggest increase. Meanwhile, prices for health and education were unchanged from the previous month.

Inflation jumped to 1.7% in December, up from 1.2% in November, marking the highest reading in eight months. Driving the upturn was likely a broad-based increase in prices ahead of the holiday season.  Harmonized consumer prices recorded a 0.1% increase in December, following a 0.3% rise in November, and harmonized inflation climbed to 1.9%, up from 1.4% in November. Annual average harmonized inflation also rose to 1.9% from 1.4% in November.

The Central Bank expects harmonized consumer prices to average 1.6% in 2018 and 2.1% in 2019. FocusEconomics Consensus Forecast participants expect harmonized inflation to average 1.7% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, the panel expects HICP inflation to average 1.8%.


Author:, Economist

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Slovenia Inflation December 2017 2

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistical Office of the Republic of Slovenia (SORS).


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