Prices in June 2020 at the annual level on average down by 0.3%
In June 2020 consumer prices were on average 0.3% lower than in June 2019, while the 12-month average price growth was 1% (in the same period last year 1.7%).
In one year, goods prices went down on average by 1.5%, while service prices went up by 1.9%. Semi-durable goods prices went down by 2.9%, durable goods prices by 1.3% and non-durable goods prices by 1.2%.
The greatest impact on annual deflation (1.2 of a percentage point) came from lower prices of petroleum products (the prices of liquid fuels decreased by 24.6% and of fuels and lubricants by 22.4%). Additional 0.3 p.p. came from lower prices of clothing (by 5%).
In the opposite direction went the prices of food (0.5 p.p. of influence with average price increase by 17.2% for fruit and by 5.9% for meat), and of miscellaneous goods and services (0.3 p.p. of influence with average increase by 3.8%). Additional 0.2 p.p. was contributed by a 6.5% increase in the prices of water supply and miscellaneous services relating to the dwelling.The price movement in the first half of 2020
In the first half of 2020 the prices went up by 0.2% (in the same period last year by 2.4%).
The prices in the group recreation and culture went up the most (by 5.8%), followed by higher prices of food and non-alcoholic beverages (by 4%) and restaurants and hotels (by 1.8%).
In the first half of the year, the largest decrease in prices was recorded in the group transport (5.8%), followed by clothing and footwear (2.7%).Electricity prices had the largest impact on the inflation in June
In June 2020 consumer prices were on average 1.3% higher than in the previous month.
The largest changes occurred in the prices of electricity (average growth by 42.5%), mainly as a result of the end of the government decree on temporary non-payment of the contribution in force due to the epidemic. This increase added 1 p.p. to overall monthly inflation. The prices of package holidays increased by 9.1% and contributed 0.4 p.p. to the monthly inflation. In addition, 0.1 p.p. each came from higher prices of liquid fuels (up by 9.2%), footwear (up by 3.6%) and new motor cars (up by 2.7%).
The monthly growth rate was pushed down by food prices by 0.2 p.p. and by clothing by 0.1 p.p. Food prices decreased on average by 1.6% and the prices of clothing on average by 1.5%. 0.1 p.p. of influence is divided among other decreases in June.Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, at the annual level in June 2020 consumer prices diminished by 0.8% (in June 2019 grew by 1.9%). The 12-month average price growth was 1% (in the same period last year 1.8%). The monthly price growth was 0.9%.
In one year, goods prices decreased by 2.4%, while service prices increased by 1.7%. Semi-durable, non-durable and durable goods prices all went down by 2.7%, 2.6% and 1.2%, respectively.
Measured with the harmonised index of consumer prices, in May 2020 the annual inflation rate in the EMU countries was 0.1% (down from 0.3% in April 2020). In the EU-27 it was 0.6% (down from 0.7% in April 2020). The lowest annual inflation rate was recorded in Estonia (–1.8%) and the highest in Poland (3.4%); in Slovenia it stood at –1.4%.