Slovenia: Inflation rises in May
May 31, 2011
In May, consumer prices added 0.8% over the previous month, matching the April reading. Higher prices for food as well as clothing and footwear were the main drivers behind the monthly increase. As a result of the monthly outturn, annual headline inflation rose from 1.7% in April to 2.2% in May, which represents the highest reading in nine months. Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) remained unchanged at 2.4%. At the current level, inflation is still below the May estimate of 2.7% for the entire Euro area. According to the OECD forecast released on 25 May, inflation is expected to rise 2.5% in 2011, while the organisation sees prices moderating to 2.2% next year.