Slovenia: Inflation hits five-month high in July
July 31, 2013
In July, consumer prices declined 0.3% over the previous month. The print was below the flat reading recorded in June. The monthly figure mainly reflects a sharp drop in clothing and footwear prices due to the summer sales, as well as a slight decline in costs for food and non-alcoholic beverages.
Despite the month-on-month decrease in consumer prices, annual headline inflation jumped from 1.9% in June to 2.6% in July, rising to its highest level since February. Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) rose from 2.3% in June to 2.8% in July. Annual average HICP inflation was 2.7%, as recorded in the last four months.
FocusEconomics Consensus Forecast participants expect HICP inflation to average 2.0% this year, which is unchanged over the previous month's forecast. In 2014, the panel expects HICP inflation to slow to 1.7%.