Slovenia Inflation March 2022

Slovenia

Slovenia: Inflation slides in March due to government regulation of electricity prices

March 31, 2022

Consumer prices dropped 1.11% in March over the previous month, swinging from February's 1.38% rise. March's result marked the weakest reading since January 2016. The drop in prices—despite global energy prices continuing to rise last month, and at a faster pace than the last—was due to the government’s decision in March to regulate prices in the electricity market.

Inflation came in at 5.4% in March, which was down from February’s 6.9%. Meanwhile, the trend pointed up, with annual average inflation coming in at 3.8% in March (February: 3.3%). Finally, harmonized inflation fell to 6.0% in March, from the previous month's 7.0%.

On the outlook, analysts at Erste Bank highlighted:

“Inflation pressures will most likely remain pronounced […] heading into [2022], 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 3.4% in 2022, which is up 0.5 percentage points from last month’s forecast, and 2.0% in 2023.


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Slovenia Inflation March 2022

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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