Slovenia: Inflation continues to ease in July
July 29, 2011
In July, consumer prices dropped 1.1% over the previous month (June: -0.5% month-on-month), which represents the sharpest monthly decline since records began. Lower prices for clothing and footwear as well as for vegetables and fruits were the main drivers behind the monthly fall. As a result of the monthly outturn, annual headline inflation slowed further from 1.3% in June to 0.9% in July, which represents the lowest reading since November 2009. Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) inched down from 1.6% in June to 1.5% in July. At the current level, inflation is still below the July estimate of 2.5% for the entire Euro area.