Consumer price indices, Slovenia, December 2015

At the end of the year, consumer price growth is negative

At the end of 2015, annual and average annual inflation stood at −0.5% (at the end of last year they both stood at 0.2%).

In one year, goods prices went down on average by 1.0%, while service prices went up on average by 0.7%. As regards goods, non-durable goods prices went down by 1.3% and durable goods prices by 1.2%. Semi-durable goods prices went up by 0.6%.

In 2015 prices decreased the most in the group transport (by 5.2%), followed by recreation and culture (by 2.3%), furnishing, household equipment and maintenance (by 1.1%) and housing water, electricity, gas and other (by 1.0%). On average higher prices were in the groups communication (by 5.3%), food and non-alcoholic beverages (by 1.5%), restaurants and hotels (by 1.4%), miscellaneous goods and services (by 1.1%), clothing and footwear (by 0.8%), health (by 0.7%) and alcoholic beverages and tobacco (by 0.1%). Prices in the group education were the same as in December 2014.

The greatest impact on the annual deflation (0.89 p.p.) came from lower prices of petroleum products. Liquid fuel prices went down by 16.3% and the prices of fuels and lubricants by 12.7%. In addition, 0.19 p.p. was contributed by 5.9% lower prices of package holidays, 0.09 p.p. by 1.9% lower prices of motor cars, 0.07 p.p. by 1.1% lower prices of furnishing, household equipment and maintenance and 0.06 p.p. by 1.0% lower prices of clothing.

On the other hand, the deflation was offset by 0.25 p.p. by higher prices of telephone and internet services (up by 5.8%). 0.23 p.p. was contributed by higher prices of food (fruit prices went up the most, by 8.5%). 0.12 p.p. was contributed by higher prices of footwear (up by 6,9%), 0.08 p.p. by higher prices of restaurants and hotels (up by 1.4%) and 0.06 p.p. by higher prices of insurance (up by 1.8%).

Prices at the monthly level 0.4% lower  

At the monthly level, prices in December 2015 were lower by 0.4%. The monthly inflation was pushed down by 0.3 p.p. by lower prices of clothing and footwear (by 3.5%). 0.1 p.p. was contributed by lower prices of petroleum products. Liquid fuel prices went down by 2.6% and the prices of fuels and lubricants by 0.8%.

Harmonised indices of consumer prices

Measured with the harmonised index of consumer prices, in 2015 the annual growth was −0.6% (down from −0.1% in December 2014). The 12-month average price growth was −0.8% (in the same period last year 0.4%). The monthly price growth was −0.4%.

In 2015, goods prices went down on average by 1.5%, while service prices went up on average by 0.9%. As regards goods, non-durable goods prices went down by 1.9% and durable goods prices by 1.0%. Semi-durable goods prices went up by 0.4%.

In 2015, prices decreased the most in the group transport (by 5.4%), followed by housing, water, electricity, gas and other (by 1.8%), recreation and culture (by 1.6%) and furnishing, household equipment and maintenance (by 1.3%).

On the other hand, prices increased the most in the group communication (by 5.0%), followed by restaurants and hotels (by 1.5%), food and non-alcoholic beverages (by 1.4%), miscellaneous goods and services (by 0.9%), health (by 0.8%), clothing and footwear (by 0.6%), education (by 0.2%) and alcoholic beverages and tobacco (by 0.1%).

Measured with the harmonised index of consumer prices, in November 2015 the annual inflation rate in the EMU countries was 0.2% (up from 0.1% in October 2015), while in the EU-28 it was 0.1% (up from 0.0% in October 2015). The lowest annual inflation rate was recorded in Cyprus (−1.5%) and the highest in Belgium (1.4%); in Slovenia it stood at −0.9%.