Consumer price indices, Slovenia, February 2007

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In February 2007 prices went down

In the second month of this year deflation was recorded as compared to a month earlier consumer prices fell by 0.2%.

The fall in prices was the result of lower prices of both goods and services. Goods were on average 0.2% cheaper: prices of non-durable goods fell by 0.3% and of durable goods by 0.1%, while prices of semi-durable goods went up by 0.1%. While in the previous three months prices of services increased, this time they decreased on average by 0.1%.

Cheaper communication, food and petroleum products

In February prices decreased in the groups communication (on average by 2.1%), food and non-alcoholic beverages (by 1%), transport (by 0.6%) and furnishing, household equipment and maintenance (by 0.2%).

In the group communication, prices of telephone goods and services fell by 2.2%, while prices of postal services remained the same. Among telephone goods and services, telephone services were 2.2% cheaper while telephone and other equipment was 1.4% cheaper. Prices in the subgroup telephone services decreased on account of new discounts offered by some internet providers.

While in the past three months prices in the group food and non-alcoholic beverages went up, in February a fall of 1% was registered. In this group food was on average 1.1% cheaper while prices of non-alcoholic beverages remained the same. In the subgroup food, prices of bread and cereals went down by 3.6%, of fruit by 1.3% and of vegetables by 0.9%. On the other hand, prices of meat and of oils and fats went up on average by 0.2%.

Lower prices in the group transport were the result of lower prices of operation of personal transport equipment (by 0.9%) and purchase of vehicles (by 0.3%). In these subgroups, prices of motor fuel decreased by 1.7%, of motorcycles and bicycles by 1.1% and of new motor cars by 0.3%. On the other hand, transport services were more expensive (on average by 0.6%) with the greatest jump registered at passenger transport by air (by 4.5%).

Lower prices of food pushed the inflation rate down by 0.2 of a percentage point and lower prices of liquid and motor fuels and of telephone services 0.1 of a percentage point each.

Higher prices of gardens, plants and flowers

In February higher prices were recorded in the groups recreation and culture (on average by 0.7%), health, and clothing and footwear (by 0.5%), restaurants and hotels (by 0.4%), housing, water, electricity, gas and other, and miscellaneous goods and services (by 0.3%), and education, and alcoholic beverages and tobacco (by 0.1%).

The highest jump was recorded in the group recreation and culture, within which other recreational items and equipment were 3.5% more expensive. Within this subgroup prices of gardens, plants and flowers jumped by as mush as 8.2%. On the other hand, in this group prices of audio, video and information processing equipment decreased by 1.2%.

As regards the group clothing and footwear, due to additional discounts prices of clothing went down by 0.2%. On the other hand, due to the end of discounts prices of footwear went up by 2.9%. Other articles of clothing and clothing accessories were on average 1.4% more expensive.

Higher prices were also registered in the group health, where prices of medical products and appliances went up by 0.9% and of outpatient services by 0.1%. Prices of hospital services did not change.

As in the previous two months, prices increased in the group restaurants and hotels. Catering services were on average 0.4% more expensive, while prices of accommodation services were 0.1% higher. Among catering services, services in canteens went up by 1.2% and services in restaurants and cafes by 0.2%. Among accommodation services, accommodation in hotels was 0.2% more expensive.

In February prices of solid fuels went up by 6.5%, of other personal effects by 2.3%, of material for the maintenance and repair of the dwelling by 1.8%, of rents by 1.2% and of wine, and furniture and furnishings, carpets by 1.1%.

Higher prices of gardens, plants and flowers contributed 0.1 of a percentage point to the inflation rate while all other rises added 0.1 of a percentage point.

Annual inflation lower

In February 2007 the annual growth of consumer prices decreased to 2.1%, while the 12-month average price growth remained at the January 2007 level of 2.5%.

In one year prices of goods and services increased the most in the following groups: restaurants and hotels (on average by 7.1%), alcoholic beverages and tobacco (by 5.4%), furnishing, household equipment and maintenance (by 5.3%), miscellaneous goods and services (by 4.7%), food and non-alcoholic beverages (by 3%), and clothing and footwear, and recreation and culture (by 2.6%). Compared to a year ago, prices of goods and services in the groups housing, water, electricity, gas and other, transport, and communication were lower by 0.9% (the first two) and 0.7% (the last one), respectively.

In one year in the group restaurants and hotels the greatest rise was observed in catering services (on average by 7.8%), among them services in, restaurants and cafes (by 9.8%). Accommodation services were on average 4.1% more expensive.

In the group alcoholic beverages and tobacco in one year prices of tobacco went up by 7.5% while prices of alcoholic beverages increased by 1.9%.

In the group furnishing, household equipment and maintenance in one year the greatest jump was recorded in goods for routine household maintenance (by 10.4%), followed by repair of household appliances (by 7.5%) and furniture and furnishings (by 6.5%).

Compared to February 2006, services were on average 4.5% more expensive, while prices of goods increased by 1%. Among goods, in one year prices of semi-durable goods rose the most (by 2.2%), followed by prices of non-durable goods, which increased by 1.3%. On the other hand, durable goods are 1.4% cheaper than a year ago.