At the annual level prices were on average higher
In July 2019 annual inflation stood at 2.0% (in July 2018 at 1.9%). The 12-month average price growth was 1.7% (in the same period last year 1.5%).
In one year, service prices increased by 2.9% and goods prices by 1.5%. Durable and semi-durable goods prices went up by 1.9% and by 1.6%, respectively, while non-durable goods prices stayed at the same level.
The greatest impact on annual inflation (0.6 p. p.) came from higher prices of goods and services in the division housing, water, electricity, gas and other fuels; prices of water supply and miscellaneous services relating to the dwelling increased by 7.1%, and prices of electricity, gas and other fuels by 3.7%. Higher prices of food (by 3.1%) also contributed to the annual inflation 0.5 p.p.
The annual inflation was pushed down by 0.2 p.p. by lower prices of fuels and lubricants for personal transport equipment (by 3.5%).
Summer sales pushed monthly inflation down
In July 2019 consumer prices were on average 0.7% lower than in the previous month.
Due to summer sales, clothing and footwear prices decreased, which pushed monthly inflation down. 0.7 p.p. was contributed by lower prices of clothing (by 13.1%) and 0.2 p.p. by lower prices of footwear (by 10.0%). Additional 0.1 p.p. came from lower prices of motor fuels (diesel by 2.4% and petrol by 2.3%) and other minor price decreases in July.
On the other hand, the monthly growth rate was pushed up by 0.4 p.p. by higher prices of package holidays (by 10.9%).
Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, in July 2019 the annual growth of consumer prices was 2.0% (in July 2018 it was 2.1%). The 12-month average price growth was 1.8% (in the same period last year 1.7%). The monthly price growth was -0.7%.
In one year, service prices increased by 3.1% and goods prices by 1.4%. Non-durable and semi-durable goods prices went up by 1.8% and 1.0%, respectively, while durable goods prices went down by 0.1%.
Measured with the harmonised index of consumer prices, in June 2019 the annual inflation rate in the EMU countries was 1.3% (up from 1.2% in May 2019). In the EU-28 it was 1.6% (the same as in May 2019). The lowest annual inflation rate was recorded in Greece (0.2%) and the highest in Romania (3.9%); in Slovenia it stood at 1.9%.