Slovenia: Inflation continues to moderate in May
May 31, 2013
In May, consumer prices rose 0.3% over the previous month, which was down from the 0.7% increase tallied in April. The monthly figure was mainly driven by higher prices for food and non-alcoholic beverages as well as for housing, water and electricity.
Despite the monthly increase, annual headline inflation decelerated further from 1.5% in April to 1.2% in May, thereby falling to its lowest level since August 2011. Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) remained unchanged at April's 1.6%. Annual average HICP inflation was also unchanged at 2.7%.
The Central Bank sees average inflation at 2.3% this year, before falling to 1.4% in 2014. FocusEconomics Consensus Forecast participants expect HICP inflation to average 2.2% this year, which is down 0.1 percentage points over the previous month's forecast. In 2014, the panel expects HICP inflation to slow to 1.9%.