Slovenia Inflation July 2016

Slovenia

Slovenia: Inflation inches down in July

July 29, 2016

Consumer prices fell 0.9% over the previous month in July, which contrasted the 0.6% increase recorded in June and marked the lowest figure in six months. Prices for clothing and footwear were down due to summer sales at many retailers. Prices for vegetables also fell over the previous month.

Inflation came in at 0.2% in July, which was down from the 0.3% recorded in June. July’s reading marked the second consecutive time that the annual change in consumer prices was positive, while prices had been falling between January 2015 and May. Meanwhile, the annual variation in the HICP was minus 0.1% in July, contrasting the 0.1% increase in June. The annual average variation of HICP inflation inched was steady at June’s minus 0.7% in July.

The Central Bank expects harmonized consumer prices to average minus 0.2% in 2016 and to increase to 1.4% in 2017. FocusEconomics Consensus Forecast participants expect HICP inflation to be flat in 2016, which is unchanged over the previous month’s forecast. In 2017, the panel expects HICP inflation to accelerate to 1.3%.


Author:, Economist

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Slovenia Inflation July 2016 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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