In January 2019 the annual inflation stood at 1.1%. At the monthly level deflation was recorded (−1.1%), which was mainly the result of winter sales of clothing and footwear.
At the annual level prices were on average higher by 1.1%
In January 2019, annual inflation stood at 1.1% (in the same period last year 1.5%), while the 12-month average price growth was 1.7% (in the same period last year 1.4%).
In one year, service prices went up on average by 2.6% and goods prices by 0.4%. Non-durable and semi-durable goods prices went up by 0.9% and 0.6%, respectively, while durable goods prices went down by 1.6%.
The greatest impact on the annual inflation (0.3 of a percentage point) came from higher prices of goods and services in the group electricity, gas and other fuels, where prices of heat energy increased the most (by 17.5%). Additional 0.3 p.p. came from higher prices in the group recreation and culture; prices of equipment for sport increased by 15.2% and package holidays by 5.1%. Higher prices in the group restaurants and hotels (by 3.1%) contributed further 0.2 p.p. to the annual inflation.
On the other hand, annual inflation was pushed down the most (by 0.3 p.p.) by lower prices in the group transport, where prices of motor cars decreased by 2.4%, of petrol by 7.4% and of diesel by 2.8%.
Winter sales and cheaper petroleum products pushed monthly inflation down
In January 2019, compared to the previous month, consumer prices were on average lower by 1.1%.
January inflation was mostly the result of lower prices of clothing and footwear (by 13.4%), which pushed the monthly growth rate down by 1.0 p.p. Lower prices of petroleum products lowered the inflation rate by 0.3 p.p.; liquid fuels prices decreased by 6.0%, and prices of fuels and lubricants for personal transport equipment by 4.5%. 0.2 p.p. came from 7.2% cheaper package holidays and 0.1 p.p. from lower prices of electricity (by 1.5%).
On the other hand, the monthly growth rate was pushed up by 0.3 p.p. by higher prices of food and non-alcoholic beverages (by 1.5%), where meat and vegetable prices increased the most (by 1.9% and 4.0%, respectively). 0.1 p.p. each came from cheaper catering services (by 1.6%) and other recreational items and equipment, gardens and pets (by 2.2%).
Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, in January 2019 the annual growth of consumer prices was 1.2% (in January 2018 it was 1.7%). The 12-month average price growth was 1.9% (in the same period last year 1.6%). The monthly price growth was −0.9%.
In one year, service prices increased by 2.6% and goods prices by 0.4%. Non-durable and semi-durable goods prices went up by 0.7% and 0.5%, respectively, while durable goods prices went down by 1.5%.
Measured with the harmonised index of consumer prices, in December 2018 the annual inflation rate in the EMU countries was 1.6% (down from 1.9% in November 2018). In the EU-28 it was 1.7% (down from 2.0% in November 2018). The lowest annual inflation rate was recorded in Greece and Portugal (0.6%) and the highest in Estonia (3.3%); in Slovenia it stood at 1.4%.
Consumer price indices, Slovenia
Growth rates of harmonised consumer prices, Slovenia
New developments and methodological changes in 2019
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 2018 prices. Weights for the harmonised index of consumer prices are based on national accounts data on final consumption expenditure for 2017 recalculated to December 2018 prices.
At the same time, we also updated the list of goods and services and the outlets where prices are collected.