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Consumer price indices, Slovenia, May 2020

In May 2020, too, annual inflation negative (−1.2%), monthly inflation at 0.9%

In May 2020 at the annual level deflation was recorded (−1.2%). In one year goods prices went down by 2.9%, while service prices went up by 2.0%. At the monthly level consumer prices increased by 0.9%, which was mostly due to the higher food prices.

  • 5/29/2020
  • |
  • final data
Annual inflation −1.2%

In May 2020 annual inflation stood at −1.2% (in the same period last year it was 1.4%), while the 12-month average price growth was 1.2% (in the same period last year 1.7%).

Compared to May 2019, goods prices went down by 2.9%. The prices of durable goods decreased by 2.3%, of semi-durable goods by 2.9% and of non-durable goods by 3.1%. In one year service prices went up on average by 2.0%.

In May 2020 the largest downward impact on the annual inflation (1.4 percentage points) came from lower prices of petroleum products (liquid fuel prices fell by 32.4% and the prices of fuel and lubricants by 23.9%); petrol prices decreased by 25.5% and diesel prices by 22.5%. The prices of clothing and footwear decreased by 4.2%, which lowered the annual inflation rate by additional 0.3 p.p.

On the other hand, the annual growth rate was pushed up by 0.8 p.p. by higher prices of food (by 5.4%). Fresh fruit prices increased by 23.4% and meat prices by 10.6%.

May inflation mainly due to higher prices of food

In May 2020 consumer prices went up on average by 0.9%. 0.4 p.p. was contributed by higher prices of fresh fruit (by 32.8%), 0.3 p.p. by higher prices in the group recreation and culture (by 2.7%), and additional 0.1 p.p. each by higher prices of clothing and footwear (by 1.1%), other services in respect of personal transport equipment (by 5.9%) and all other price increases in May.

The downward impact on inflation (0.1 p.p.) came from lower prices of petroleum products; liquid fuel prices went down by 6.7% and the prices of fuels and lubricants for personal transport equipment by 0.8%.


Harmonised indices of consumer prices

Measured with the harmonised index of consumer prices, in May 2020 the annual growth of consumer prices was −1.4% (in May 2019 it was 1.6%). The 12-month average price growth was 1.3% (in the same period last year 1.8%). The monthly price growth was 0.7%.

Compared to May 2019, goods prices went down by 3.4%. The prices of non-durable goods decreased by 4.0%, of semi-durable goods by 2.2% and of durable goods by 2.1%. In one year service prices went up on average by 2.1%.

Measured with the harmonised index of consumer prices, in April 2020 the annual inflation rate in the EMU countries was 0.3% (down from 0.7% in March 2020). In the EU-27 Member States it was 0.7% (down from 1.2% in March 2020). The lowest annual inflation rate was recorded in Slovenia (–1.3%) and the highest in Czechia (3.3%).


Annual growth rates of consumer prices, Slovenia
Annual growth rates of consumer prices, Slovenia
Source: SURS
Consumer price indices, Slovenia
V 20
V 19
V 20
IV 20 
V 20 
XII 19
I–V 20
I–V 19
V 20–VI 19
V 19–VI 18
V 20
Ø 15 
Total98.8100.999.0100.4101.2104.26
01 Food and non-alcoholic beverages105.1102.4105.6104.5103.3114.10
02 Alcoholic beverages and tobacco101.8100.1100.7101.7101.6106.42
03 Clothing and footwear95.8101.197.399.1100.7101.66
04 Housing, water, electricity, gas and other fuels91.499.991.097.1100.9101.02
05 Furnishing, household equipment and routine household maintenance99.299.999.1100.3100.9101.37
06 Health100.1100.0100.3100.6101.1104.45
07 Transport92.2100.493.696.898.091.88
08 Communications100.9100.199.399.099.6104.43
09 Recreation and culture100.2102.7102.499.8100.7103.67
10 Education103.0100.0100.0104.2104.5111.83
11 Restaurants and hotels101.6100.6102.3102.0102.6111.59
12 Miscellaneous goods and services103.7100.1100.7104.4103.6110.31
  Goods97.1100.897.599.5100.4101.12
  Services102.0101.1101.7102.1102.7110.82
Source: SURS
Growth rates of harmonised consumer prices, Slovenia
V 20
V 19
V 20
IV 20 
V 20 
XII 19
I–V 20
I–V 19
V 20–VI 19
V 19–VI 18
V 201)
Ø 15 
Total-1.40.7-1.30.41.3104.30
01 Food and non-alcoholic beverages4.51.84.94.13.2113.05
02 Alcoholic beverages and tobacco1.90.10.61.81.7106.36
03 Clothing and footwear-3.51.3-3.7-0.80.799.80
04 Housing, water, electricity, gas and other fuels-9.00.0-9.4-3.30.8101.40
05 Furnishing, household equipment and routine household maintenance-0.30.2-0.50.40.9100.26
06 Health0.40.00.31.11.8106.26
07 Transport-9.50.2-8.1-3.6-2.291.53
08 Communications0.70.0-0.4-1.2-0.9104.30
09 Recreation and culture0.22.11.70.21.0104.48
10 Education2.60.00.03.63.9110.64
11 Restaurants and hotels2.20.52.12.63.2112.57
12 Miscellaneous goods and services2.80.20.93.32.9109.16
  Goods-3.40.7-3.1-0.70.3100.21
  Services2.10.71.62.32.9111.54
1) Indices.
Source: SURS
METHODOLOGICAL NOTE

Due to the coronavirus epidemic, SURS is faced with difficulties in data collection, checking and processing. 

In May 2020, we collected retail prices of non-food goods and services to a greater extent by phone and through the websites of providers. Higher quality of the indices was ensured by using scanner data. 

Where prices could not be collected or services were not provided, data were compiled in accordance with Eurostat recommendations, so in some subgroups the published indices are less reliable than usual. The missing prices were imputed by using the price changes of similar products. In some cases, where there are reasons to expect that the prices will be the same once the situation will revert back to normal, carry forward method was used. For series with seasonal patterns (flights, package holidays and some accommodation services), imputation with monthly change of the previous year was used. The share of imputed data represents 5.6% of total consumer price index and 4.6% of harmonised index of consumer prices.

As we continue to obtain scanner data weekly, the indices for divisions 01 (Food and non-alcoholic beverages) and 02 (Alcoholic beverages and tobacco) were calculated in the same way and therefore are of the same quality as in the months before the epidemic.

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