Slovenia Inflation November 2021

Slovenia

Slovenia: Inflation comes in at highest level since October 2008 in November

November 30, 2021

Consumer prices increased 0.70% over the previous month in November, below the 0.90% increase recorded in October. The slowdown was largely driven by dropping prices for food and non-alcoholic beverages, which more than compensated for higher prices for recreation and culture.

Inflation came in at 4.6% in November, which was up from October’s 3.0%. November's figure represented the highest inflation rate since October 2008. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.5% in November (October: 1.0%). Lastly, harmonized inflation rose to 4.9% in November, from October’s 3.5%.

On the outlook, analysts at Erste Bank highlighted:

“Inflation pressures will most likely remain pronounced at the very end of the year and heading into next year, reflecting global energy and commodity price developments, hence supply-side developments. Meanwhile, we continue to see demand-side pressures staying balanced.”

FocusEconomics analysts project harmonized inflation to average 2.0% in 2022, which is up 0.1 percentage points from last month’s forecast, and 1.8% in 2023.


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Slovenia Inflation November 2021 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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