Harmonised index of consumer prices at constant tax rates, Slovenia, June 2020

In the first half of 2020, higher excise duties led to a lower price drop (by 0.2 of a percentage point)

In the 1st half of 2020, excise duties on motor fuels increased. There was also a change in the field of taxes. Due to these changes, cumulative price growth decreased on average by 0.5%, annual by 0.8%. With unchanged excise duties, prices would have decreased by 0.7% and 1.0%, respectively.

  • 6/30/2020
  • |
  • final data
In the 1st half of 2020, due to changes in excise duties prices did not fall as much as they would have otherwise

In the first release this year, we summarise the changes in excise duties and taxes that took place in the first half of 2020: a special lower VAT rate for publications and higher excise duties on motor fuels.

At the annual level, in June 2020 the difference between the harmonised index of consumer prices (HICP) and the harmonised index of consumer prices at constant tax rates (HICP-CT) was 0.2 of a percentage point. The annual growth of prices measured with the HICP was −0.8%, whereas with unchanged excise duties it would be −1.0%.


Comparison of HICP and HICP-CT data for the first half of 2020

In January 2020, a special, lower (5%) tax rate was introduced for books, newspapers and other publications, which did not affect the overall index.

In May 2020, the HICP was 0.1 p.p. higher than the HICP-CT, as a result of higher excise duties on motor fuels in April 2020. The difference between the HICP and the HICP-CT was most recognizable in the group transport, where the two indices differed by 0.9 p.p. With unchanged excise duties prices in this group would decrease by 0.7%, whereas with higher excise duties they increased by 0.2%.

May’s changes of excise duties on motor fuels resulted in June’s inflation, which was 0.9%, whereas with unchanged excise duties it would have been slightly lower (0.8%). The difference between the indices was noticeable in the group transport, where the HICP was 0.6 p.p. higher than the HICP-CT; transport prices increased by 0.4%, whereas with unchanged excise duties they would have decreased by 0.2%.

In the first half of 2020, the cumulative growth of consumer prices was −0.5%, which was 0.2 p.p. higher than in the case of unchanged excise duties. At the annual level the indices differed: the HICP was 0.2 p.p. higher than the HICP-CT.


Monthly growth rates of HICP and HICP-CT, Slovenia
Monthly growth rates of HICP and HICP-CT, Slovenia
Source: SURS
Monthly growth rates of harmonised consumer prices at constant tax rates, Slovenia
 I 20 
XII 19
II 20
I 20 
III 20
II 20 
IV 20 
III 20
V 20 
IV 20
VI 20
V 20 
Total-0.50.4-0.6-1.30.60.8
1 Food and non-alcoholic beverages1.70.70.10.41.8-1.4
2 Alcoholic beverages and tobacco0.30.20.2-0.20.1-0.3
3 Clothing and footwear-13.23.87.6-2.01.3-0.4
4 Housing, water, electricity and other0.9-0.4-7.7-2.30.09.2
5 Furnishing, household equipment and maintenance-0.10.40.5-1.40.20.5
6 Health-0.10.30.10.00.0-0.4
7 Transport0.0-1.3-0.6-6.6-0.7-0.2
8 Communications0.2-0.20.0-0.40.00.7
9 Recreation and culture-1.22.4-2.31.12.12.3
10 Education0.00.00.00.00.00.0
11 Restaurants and hotels0.40.30.30.70.5-0.4
12 Miscellaneous goods and services0.30.4-0.50.50.20.2
Goods-0.70.2-0.7-2.50.51.0
Services-0.20.8-0.40.80.70.4
Source: SURS
Visit our SiStat database.