Slovenia: Inflation moderates sharply in March
March 29, 2013
In March, consumer prices rose 0.3% over the previous month, which was down from the 0.8% increase tallied in February. The monthly figure was mainly driven by higher prices for clothing and footwear as well as for communications.
Despite the monthly increase, annual headline inflation decelerated sharply from 2.7% in February to 2.0% in March, thereby falling to its lowest level since August 2011. Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) decreased from 3.0% in February to 2.2% in March, driving annual average HICP inflation to 2.8% (February: 2.9%).
The Central Bank anticipates inflation to moderate to 2.3% this year. FocusEconomics Consensus Forecast participants expect HICP inflation to average 2.1% 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 2.0%.