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Slovenia Inflation January 2022

Slovenia: Inflation comes in at highest level since August 2008 in January

Consumer prices rose 0.39% in January over the previous month, swinging from December’s 0.01% fall. Looking at the details of the release, higher price pressures for fuels and food were largely behind the higher reading .

Inflation came in at 5.8% in January, up from December’s 4.9%. January’s result marked the highest inflation rate since August 2008. Annual average inflation rose to 2.6% in January (December: 2.0%). Finally, harmonized inflation rose to 6.0% in January, from the previous month’s 5.1%.

On the outlook, analysts at Erste Bank highlighted:

“Inflation pressures will most likely remain pronounced […] heading into [2022], reflecting global energy and commodity price developments, hence supply-side developments. Meanwhile, we continue to see demand-side pressures staying balanced.”

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