Consumer price indices, Slovenia, November 2020
Prices in November 2020 on average 0.9% lower annually and 0.8% lower monthly
In November 2020, consumer prices were on average lower, at the annual level by 0.9% and at the monthly level by 0.8%. The annual deflation was mostly the result of cheaper petroleum products.
In November 2020, annual inflation stood at −0.9% (in the same period last year it was 1.4%), while the 12-month average price growth was 0.2% (in the same period last year 1.6%).
In one year, service prices increased on average by 1.1%, while goods prices decreased by 1.9%. Semi-durable goods prices fell by 4.8%, non-durable goods prices by 1.4% and durable goods prices by 1.1%.
In November 2020, the largest downward impact on the annual inflation (1.1 percentage points) came from lower prices of petroleum products (prices of fuels and lubricants fell by 21.4% and prices of liquid fuels by 18.8%). Additional 0.5 p.p. was added by lower prices of clothing and footwear (which decreased by 5.6% and 7.5%, respectively).
On the other hand, the annual growth rate was pushed up by 0.3 p.p. by higher prices of food (by 1.8%) and by higher prices of products and services in the group health (by 5.0%). Additional 0.2 p.p. came from higher prices of tobacco (by 5.3%).
In November 2020, prices at the monthly level 0.8% lower
In November 2020, consumer prices were on average 0.8% lower than a month before.
The prices of clothing and footwear decreased on average by 3.7% and contributed 0.3 p.p. to the monthly deflation. 0.2 p.p. came from 1.4% lower prices of food.
Additional 0.1 p.p. came from cheaper accomodation services (by 5.0%), lower prices of other recreational items and equipment, gardens and pets (by 2.0%), cheaper package holidays (by 1.8%), cheaper transport products and services (by 1.0%) and lower prices in the group furnishings, household equipment and routine household maintenance (by 0.7%).
On the other hand, the monthly growth rate was pushed up by 0.2 p.p. by 3.8% higher prices of products and services in the group health.
Harmonised indices of consumer prices
Measured with the harmonised index of consumer prices, in November 2020 the annual growth of consumer prices was −1.1% (in November 2019 it was 1.4%). The 12-month average price growth was 0.0% (in the same period last year 1.6%). The monthly price growth was −0.6%.
Compared to November 2019, goods prices went down by 2.7%. The prices of semi-durable goods decreased by 4.3%, of non-durable goods by 2.7% and of durable goods by 0.9%. In one year service prices went up on average by 1.5%.
Measured with the harmonised index of consumer prices, in October 2020 the annual inflation rate in the EMU countries was –0.3% (the same as in September 2020). In the EU-27 Member States it was 0.3% (the same as in September 2020). The lowest annual inflation rate was recorded in Greece (–2.0%) and the highest in Poland (3.8%); in Slovenia it stood at –0.5%.
Consumer price indices, Slovenia
Growth rates of harmonised consumer prices, Slovenia
Due to the second wave of the coronavirus epidemic, SURS is again faced with difficulties in data collection.
In November 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, as we continue to obtain them weekly.
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, the carry forward method was used. For series with seasonal patterns (package holidays and some accommodation services), imputation with monthly change of the previous year was used. The share of imputed data represents 11.3% of the total harmonised index of consumer prices and 10.3% of the total consumer price index.