In January 2018 inflation at the annual level stood at 1.5%, mainly due to higher prices of food. At the monthly level deflation (−0.8%) was recorded.
In January 2018 consumer prices at the annual level grew on average by 1.5%
In January 2018, annual inflation stood at 1.5% (in the same period last year 1.3%), while the 12-month average price growth was 1.4% (in the same period last year 0.1%).
In one year, goods prices went up by 1.4% and service prices by 1.7%. As regards goods, non-durable goods prices went up by 2.4% and semi-durable goods by 0.5%, while durable goods prices went down by 1.7%.
In January 2018 the largest upward impact on the annual inflation (0.5 of a percentage point) came from 3.0% higher prices of food: fruit prices were higher by 11.6%, meat prices by 7.7%, and the prices of milk, cheese and eggs by 3.2%, while vegetable prices decreased by 8.0%. The annual inflation was pushed up by another 0.3 p.p. by 4.0% higher prices of electricity, gas and other fuels.
The annual inflation was pushed down by 0.2 p.p. by 3.4% lower prices of motor cars and by 0.1 p.p. by 1.9% lower prices of wireless telephone services.
Monthly inflation lowered by winter sales
In January 2018 consumer prices went down on average by 0.8%, mostly due to seasonal discounts in the group clothing and footwear; prices of garments lowered the inflation rate by 0.9 p.p. (prices of garments for children decreased by 17.7%, for women by 17.1%, and for men by 15.0%). Additional 0.1 p.p. was contributed by 7.5% cheaper footwear. 0.2 p.p. by 5.3% lower prices of package holidays and 0.1 p.p. by 13.3% lower prices of equipment for sport.
On the other hand, the biggest upward impact (by 0.2 p.p.) on monthly inflation came from higher food prices (mostly from higher prices of meat and vegetables, which increased by 1.5% and 5.3%, respectively). Additional 0.1 p.p. each was added by 1.2% higher prices of electricity, gas and other fuels, 1.0% higher prices of services in the group restaurants and hotels, and other price increases.
Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, in January 2018 the annual growth of consumer prices was 1.7% (in January 2017 it was 1.5%). The 12-month average price growth was 1.6% (in the same period last year 0.0%). The monthly price growth was −0.6%.
In January 2018 goods prices increased by 1.4% and service prices by 2.3%. Non-durable goods prices went up by 2.5% and semi-durable goods prices by 0.1%, while durable goods prices decreased by 2.2%.
Measured with the harmonised index of consumer prices, in December 2017 the annual inflation rate in the EMU countries was 1.4% (down from 1.5% in November 2017). In the EU-28 it was 1.7% (down from 1.8% in November 2017). The lowest annual inflation rate was recorded in Cyprus (–0.4%), followed by Ireland and Finland (both 0.5%), and the highest in Estonia and Latvia (both 3.8%); in Slovenia it stood at 1.9%.
Consumer price indices, Slovenia
Growth rates of harmonised consumer prices, Slovenia
In 2018 we are introducing a new methodology for computing inflation, where the price movements of food, beverages and tobacco are shown through the Consumer Price Index (CPI) and the Harmonised Index of Consumer Prices (HICP) exclusively from the scanner data (retailer's transaction data). More on
As in the previous years, weights were changed; they are now based on the average of expenditure from the 2015 Household Budget Survey recalculated to December 2017 prices. Weights for the harmonised index of consumer prices are based on national accounts data on final consumption expenditure for 2016 recalculated to December 2017 prices.
At the same time, we also updated the list of other goods and services and the outlets where prices are collected.