In July 2017 inflation at the annual level stood at 1.0%. At the monthly level deflation was recorded (−0.7%), which was mainly the result of summer sales of clothing and footwear.
At the annual level prices were on average higher by 1.0%
In July 2017 annual inflation stood at 1.0% (in the same period last year it was 0.2%), while the 12-month average price growth was 1.1% (in the same period last year −0.4%).
In one year, service prices went up on average by 1.5% and goods prices by 0.8%. As regards goods, semi-durable and non-durable goods prices went up by 1.5% and 1.3%, respectively, while durable goods prices went down by 1.6%.
Annual inflation rate was pushed up the most (by 0.3 of a percentage point) by higher prices of food and non-alcoholic beverages (by 1.5%). Additional 0.2 p.p. each was added by higher prices of tobacco (by 4.8%), clothing and footwear (by 3.4%), and housing, water, electricity, gas and other fuels (by 1.5%).
In July 2017 the largest downward impact on the annual inflation (by 0.2 p.p.) came from lower prices of second-hand motor cars (by 8.9%).
Summer sales pushed monthly inflation down
At the monthly level, consumer prices decreased on average by 0.7%. The monthly growth rate was pushed down the most (by 1.1 p.p.) by lower prices of clothing and footwear. Clothing prices decreased by 14.0%, footwear prices by 12.5%. Lower prices of fruit (by 4.1%) and petroleum products lowered inflation rate by 0.1 p.p. each; motor fuels prices decreased by 1.1%, liquid fuels prices by 4.9%.
On the other hand, the monthly growth rate was pushed up by 0.4 p.p. by higher prices of package holidays (by 11.0%). Higher prices of meat (by 2.1%) and tobacco (by 1.8%) added additional 0.1 p.p. each.
Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, in July 2017 the annual growth of consumer prices was 1.2% (in July 2016 it was −0.1%). The 12-month average price growth was 1.1% (in the same period last year −0.7%). The monthly price growth was –0.6%.
In July 2017, service prices increased by 1.8% and goods prices by 0.7%. Non-durable and semi-durable goods prices went up by 1.4% and 0.6%, respectively, while durable goods prices decreased by 1.7%.
Measured with the harmonised index of consumer prices, in June 2017 the annual inflation rate in the EMU countries was 1.3% (down from 1.4% in May 2017). In the EU-28 it was 1.4% (down from 1.6% in May 2017). The lowest annual inflation rate was recorded in Ireland (−0.6%) and the highest in Lithuania (3.5%); in Slovenia it stood at 0.9%.
Table 1: Consumer price indices, Slovenia
Table 2: Growth rates of harmonised consumer prices, Slovenia